AMA: Google Marketing Head for YouTube Shorts Mexico & Spanish LATAM, Martin Raygoza on Category Creation

Creating a category could be one of the most complicated process for any organization. It is very important that you make sure your company has the resources necessary for this. Here are 3 questions I would ask my business before thinking on expanding to new categories: Will my core business be protected?: The biggest mistake you could make is to unprioritized the part of your business that brings the most value to the company. Unless you can be certain your main revenue stream is safe, I wouldn ...Read More

Some of the most important decisions you need to consider as a product manager are: How competed is the new category?: There is no right answer. More competition means more barrier to enter but less means fewer information at your disposal. Just make sure your strategy consider the external factors as-well. Champion products: Could sound obvious but there are products that with minimal adjustments could serve more than one category. Example Soda and Soda with alcohol. Staying close to your core ...Read More

The great thing about being the underdog is that you can also be the disruptor. The category's leader role is to maintain its position, this limits how many risk they can take and usually makes them over confident. So if you find your company in this position my suggestion would be to follow the path of the disruptor. There have been many companies in the past that enter a category in a second place or even in a later stage and now they lead that category. In this situation it will all come back ...Read More

It is relatively easy to get it wrong when creating a new category, the complication is in the word "new". So it is very important to make sure you understand all the implications for your business to reduce the possibility of failure. Here is in my opinion some of the most common mistake done by organizations trying to expand to new categories. Bad resource management: You must make sure you understand the economics of this decision for your business in every way: People, money, know-how and ti ...Read More

I would suggest to think of entering or creating new categories with the same complexities of creating a new business. So definitely it is easier to promote products. Depending on how far form you core business will be the level of difficulty of creating a new category, so I would suggest to try to stake within your industry and your sector. When deciding to start on this journey make sure you are taking into consideration both internal and external factors: Internal: Resources available; expert ...Read More