Manage Smarter 240 — Eddie Yoon — Manage Weirder! Category Design and Superconsumers=Unique Insight

HOSTED BY C. LEE SMITH AND AUDREY STRONG
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Get ready to dive into the fascinating world of category strategy with a true authority in the field. We are thrilled to have Eddie Yoon as our guest. He's the Co-​Founder of Category PIrates, LLC…a business writing band and top 10 business Substack. He's also a distinguished author and expert who has contributed extensively to the Harvard Business Review on category strategy.

Category design is a powerful growth strategy that can help businesses differentiate themselves and drive success in today's competitive market. By understanding the needs of super consumers and embracing unconventional approaches, businesses can position themselves for long-​term growth and profitability.

With his unparalleled knowledge and expertise, Eddie is set to share groundbreaking insights from his latest book “The 22 Laws of Category Design,” His other book is called “Superconsumers: A Simple, Speedy, and Sustainable Path to Superior Growth”.

In this podcast for sales managers, executive leadership and emerging leaders, Audrey, and Eddie Yoon discuss:

What is Category Design?

Category design is the ultimate growth strategy for businesses. It involves creating a new category or redefining an existing one to differentiate your business and stand out in the market. By focusing on category design, businesses can rewrite the rules and position themselves as leaders in their industry.

Prominent Brands in Category Design

Eddie Yoon highlights brands like Tesla and Starbucks as examples of companies that have excelled in category design. Tesla, for instance, is not just a car company but a mission-​driven organization focused on accelerating the world to sustainable energy. Starbucks has successfully designed new categories within the coffee industry, attracting super consumers and driving growth.

He explains, there are three types of business strategy. "Be the winner" (e.g., Toyota has #1 market share), "Be the best" (e.g., BMW…ultimate driving machine), and "Be different" (e.g., Tesla).

Identifying Super Consumers and Super Geographies

Eddie emphasizes the importance of leveraging data to identify super consumers and super geographies. By analyzing consumer behavior and purchase intent, businesses can uncover unique insights that drive growth and profitability. Super consumers of one category are often super consumers of nine other categories, presenting opportunities for strategic partnerships and targeted marketing efforts.

Challenges and Opportunities in Scaling Up with Category Design

For businesses looking to scale up and create a unique category, managing weirder is key. This approach involves looking beyond conventional wisdom and exploring non-​obvious bundles and opportunities. By understanding the unique needs and behaviors of super consumers, businesses can develop tailored strategies for growth and expansion.

The Future of Category Strategy in Media and Streaming

Eddie discusses the challenges and opportunities in the media and streaming industry, particularly in the context of direct-​to-​consumer streaming services. He emphasizes the importance of offering choice and convenience to consumers, as well as the potential for non-​obvious bundles to drive profitability and customer retention.

"If you don't define the category you're in, the consumer will define it for you. Or worse yet, your competitors will.”

Eddie Yoon

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