Question Page

My company is at a point where we should begin creating our category. How would you go about that process step by step today, for a small and rising org? Thanks :)

Martin Raygoza
Martin Raygoza
Google Marketing Head for YouTube Shorts Mexico & Spanish LATAMJune 7

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:

  1. 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't suggest start exploring for new categories. Of course there could be situations where you need to create a new category because your core business is dying or competition is catching up, in this case this will be part of your strategy, but you still need to make sure you don't kill the cash cow before time.

  2. Do you have enough resources? : Think of a new category almost as a new business. Of course you'll be able to find efficiencies with your current operation. But mostly a new category means going for new customers and this requieres a whole set of different skills, people and go to market strategies.

  3. How connected is this new category with your core business? : Creating a new category is challenging by itself but you can make it easier by avoiding going to far from you main activity, for example: if you are in the soda business you could move to alcoholic beverages before thinking on moving to chips or sweets. The same if you are a clothing company, you will have a better chance to succeed if you move to footwear than going to the tech industry.

...Read More
3043 Views
Differentiating through Storytelling
Thursday, October 24 • 12PM PT
Differentiating through Storytelling
Virtual Event
Alex Lopes
Sharon Markowitz
Amanda Jordan
+222
attendees
Top Product Marketing Mentors
Mary Sheehan
Mary Sheehan
Adobe Head of Lightroom Product Marketing
Jeffrey Vocell
Jeffrey Vocell
Panorama Education Head of Product Marketing
Brianne Shally
Brianne Shally
Nextdoor Ex-Head of Product Marketing
Leah Brite
Leah Brite
Gusto Head of Product Marketing, Employers
Marcus Andrews
Marcus Andrews
Pendo Sr. Director of Product Marketing
Julien Sauvage
Julien Sauvage
Clari VP, Brand, Content and Product Marketing
Susan "Spark" Park
Susan "Spark" Park
Monzo Director of Product Marketing
Kevin Garcia
Kevin Garcia
Anthropic Product Marketing Leader
Jeff Hardison
Jeff Hardison
Calendly VP of Product Marketing
Jane Reynolds
Jane Reynolds
Match Group Director of Product & Brand Marketing, Match Group North America