HBR On Strategy Innovating Around an Existing Core Product or Service
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Jul 24, 2024 
Wharton professor David Robertson discusses innovating around a core product by building a family of complementary innovations. Examples include LEGO, GoPro, and CarMax. Key topics: growth strategy, leveraging customer feedback, challenges in innovation, and successful strategies by companies like Victoria's Secret and Gatorade.
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Complementary Products Multiply Core Value
- GoPro succeeded by building a family of complementary products around a simple core camera.
- Complementary mounts, apps, and accessories made the camera far more valuable than better specs alone.
Lego Lost Faith, Then Regained It
- Lego nearly went bankrupt after abandoning belief in the brick and chasing digital play.
- They recovered by returning to the brick and surrounding it with stories, games, and movies.
Create A Solution Integrator Role
- Appoint a solution integrator above the product manager to coordinate complementary offerings.
- Keep product managers but give portfolio responsibility to someone who links product, software, and services.