Lochhead on Marketing

201 Category Creation: How To Dam The Demand

20 snips
May 23, 2024
Discover how to 'dam the demand' in marketing by creating new categories to dominate. Learn from tech titans like Marc Benioff and Peloton on redirecting existing consumer desire. Find out how companies across industries have successfully created new markets by utilizing this strategy.
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INSIGHT

Damming Demand Creates New Market Choices

  • "Damming the demand" means redirecting existing market demand into a new category with a defining difference.
  • This approach creates new choices in the market and expands the overall demand.
ANECDOTE

Marc Benioff's Cloud CRM Example

  • Marc Benioff dammed CRM demand by introducing cloud CRM vs. on-premise CRM.
  • This created a debate, expanding demand for cloud applications beyond CRM.
ANECDOTE

Peloton Dams Spin Class Demand

  • Peloton dammed demand for traditional spin classes by offering home fitness alternatives.
  • This created new demand for home spin classes and expanded the home fitness category.
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