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What’s in a Name: CVS-Aetna Acquisition Brand Strategy

Posted by Amy Modini

Tue, Mar 20, 2018


Earlier this month, shareholders approved the $69 billion CVS-Aetna acquisition, marking one step closer to what would be the largest health insurance deal in history—far exceeding Express Scripts’ 2012 acquisition of Medco Health and  the CVS-Caremark Rx deal of 2006.

The CVS-Aetna announcement could dramatically reshape the healthcare industry.

From a brand strategy perspective, this acquisition is interesting because it involves two distinguished brands in the healthcare space—CVS is the country’s largest pharmacy while Aetna is the nation’s third largest healthcare provider.

Two powerful brands coming together

There are many layers to mergers and acquisitions (M&A), but developing a sound brand strategy is one of the most critical components of any agreement—especially when it involves two mega brands like CVS and Aetna.

Aligning on a brand strategy is as important as sorting out financials, operations, logistics, and everything else that comes with the complexities of this kind of deal.

The tricky part is there’s no prescribed framework for the “perfect” M&A brand strategy. How CVS and Aetna plan to proceed is still unclear—whether they remain separate, combine names, or land somewhere in the middle.

But there are several best practices to consider when developing an M&A brand strategy.

Brand strategy must match the business strategy

Why are you merging/acquiring? Is it to expand a geographical footprint? To fill a product or service gap? Whatever the reason, the “why” (e.g., the business strategy) MUST inform your brand strategy.

Dig into each brand to identify what the intrinsic qualities are and let those distinct value propositions guide your strategy.

Account for your audience(s)

Internal and external brand communications must align and support the overall brand strategy and should be tailored to each brand’s audience(s).

In the CVS and Aetna case, both brands touch many constituents—patients, employers, physicians, etc. The brand strategy must account for all these touchpoints and create messaging and experiences that meet each group’s specific expectations and needs.

Bring everyone to the table

M&A is a unique opportunity for brands to refresh their image. However, developing a lasting strategy should include employee input and buy-in from the top down.

Be transparent about the chosen brand path—ideally employees should be privy to changes ahead of time so they can begin to internalize the new brand promise.

Especially in the CVS-Aetna case, employees on the frontline who interact with patients and customers every day need to understand the chosen brand path to ensure a smooth and successful branding transition.

The branding gist

Whether it’s a $69 billion acquisition or the merging of two “mom and pop” shops, building a brand strategy is an integral piece of the M&A puzzle.

There’s no “right” way to approach this, but keeping in mind the business strategy, impacted audiences, and employee input will help make the development and implementation of an effective M&A brand strategy much smoother.

Topics: healthcare research, health insurance research, insurance research, brand health and positioning

Upcoming Webinar: Busting the Millennial Insurance Myth

Posted by Lori Vellucci

Thu, Apr 07, 2016

millennials and insuranceFree for 40 minutes next Wednesday? Join us for a webinar that will explore Millennial attitudes and behaviors toward insurance!

Insights will include:

  • A segmentation of Millennials revealing five distinct personas with varied brand preferences, attitudes, and behaviors
  • What Millennials expect and want from insurers and how to spur adoption
  • Key differences among younger (21-25) and older (26-30) Millennials
  • Profiles of high-value segments and how best to reach them
  • A comparison of generational expectations of mobile technology and applications
Date and Time: Wednesday, April 13th @ 12:30 EST
Speaker: Lori Vellucci, Account Director, Chadwick Martin Bailey
See you Wednesday!
Watch here!

Topics: insurance research, webinar

6 Questions with Allstate's Bob Pankauskas

Posted by Anne Bailey Berman

Wed, Aug 13, 2014

allstate, innovation, Bob Pankauskas  Allstate Insurance’s Director of Consumer Insights, Bob Pankauskas, sat down with CMB President Anne Bailey Berman to talk innovation, mobile, and what clients need to expect from market researchers.

Anne: Innovation isn’t a word people typically associate with insurance, yet the industry’s changed drastically in the past 5 years. How has that impacted you as a Market Researcher?

Bob: Innovation is a big part of what my team is charged with supporting. We’ve been doing a lot more exploration in terms of coming up with new products and services. This also means we need to broaden our toolkit with more exploratory and discovery work. For example, we’re rediscovering the world of ethnography to try and provide products and services for the future. We’ve done several ethnography projects, and we’re using new tools. We even had one of the ethnographies we did turned into a video that was used by the board of directors to showcase some interesting pain points consumers have with their cars. We’re also doing more and more concept testing and developing and exploring ideas.

Anne: So when you’re talking about innovation, you’re talking about two types of innovation. You’re talking about innovation for products and services for Allstate, but you’re also talking about the innovation of information tools in your bucket. How do you determine if the tools you’re using for innovation are really helping you more than traditional tools?

Bob: The thing we’re always searching for is that insight—that visceral reaction that consumers have. Consumers are behaving in a certain way. Why are they behaving that way? Anything that helps us get to a good insight is really useful, and a lot of the nontraditional ways seem to be more useful than the traditional quantitative approach. You have to work a little harder to get insights out of a quantitative approach, so using qualitative helps a great deal. Our CMO will say, “Great, what’s the consumer insight? What is the pain point?”  We need to focus on the problem we’re solving for the customer. It’s very easy to ask, but often we find we’re solving a problem for Allstate and not really solving the problem for consumers.  We work hard to address that.

Anne: What research challenges are keeping you up at night?

Bob: A really pressing topic of the day is the migration to mobile. It’s only a matter of time before we migrate all of our research platforms to mobile devices. We want our respondents to be able to choose when, how, and where they answer our questions. At this point, we do optimize our surveys for mobile. We pay a lot of attention to question length, simplifying response options, and usability. Our goal is to make our surveys engaging and rigorous.

Of course, trackers are a bigger challenge—it’s painful to live through that period when you say, “. . . and then we changed everything and our numbers are different.” But there are incremental opportunities that mobile provides—being in the moment, getting a real-time view of sponsored events, and just the ability to capture insights when customers are in the midst of an experience. We’re also really excited to utilize consumer-generated images to get more color and context from mobile cameras and not just words and numbers.  The shift is inevitable and the opportunities are there. We just need to be mindful of what we lose and what we gain as we make trade-offs in terms of trending.

Anne: What about target markets?

Bob: We’re trying to go after Millennials like everybody else. Everybody is chasing them, and it’s hard to crack the code. Going after a target means going after them well—understanding their motivators and having a product or service that is tailored to them. I think we have found how they liked to be talked to. They want to be treated with respect. They do want to research things online, but they still want to talk to somebody and touch base with them. It’s more about the “how” and less about the “what.”

Anne: What consumer insights get you most excited? Which tools?

Bob: It isn’t necessarily the tool that gives you the best insights. It’s creating receptivity and listening carefully. One of the most powerful insights we had at Allstate was the need for tangibility. Insurance is an intangible product or service. When you’re getting it, you really don’t know what you’re getting.

The thing is that we’re trying to solve the same problem again and again. So the issue is, how can you—as a smart marketer, researcher, or innovator—change your perspective just a little bit and look at the same thing you’ve been looking at for a long time and say, “Oh! Wow! Look at that! That’s new!” Now maybe it wasn’t new, but you changed your perspective and suddenly saw it. Many of the new techniques allow that change in perspective, and that’s pretty powerful.

Anne: And finally, what would you tell market research vendors about how they can best support the decisions you need to make?

Bob: Partner with your clients. Experiment as often as you can because you’ve got to make changes. You don’t put all your bets on the stuff, but you do have to test and learn. And then the second thing is TLDR—too long, didn’t read. It’s a great feeling to know there’s a 100 page deck of tables to support whatever the project is and that you’ve got your money’s worth. But that’s not at all what we pass on to our internal clients. We live in an ADD world. We’re all time starved, so we need to get to that 1 page summary. Tell me the 2 things I need to know—what’s your recommendation and how this is actionable? The ability to do that is what I’m looking for in a partner.

Check out our new case study to see how we helped a top 25 global bank develop a new value proposition and evaluate perceptions of various service channels and transactions.


Topics: insurance research, mobile, consumer insights, millennials, Researchers in Residence, growth and innovation

Innovation at American Family Insurance

Posted by Jennifer von Briesen

Fri, May 30, 2014

american family insurance

Insurance companies aren’t what most people think of when they think of innovation, but you’d be surprised. American Family Insurance (AMFAM) based in Madison, Wisconsin, is doing some interesting things and a lot of it has to do with their Chairman/CEO (Jack Salzwedel), Chief Business Development Officer (Peter Gunder), and Innovation Director (Dawn Mortimer).It may seem counter-intuitive that firms in regulated and risk-averse industries have great innovation potential, but at South Street, we believe these constraints are huge catalysts for growth and change.

AMFAM’s previous innovation endeavors were focused on products and specific business areas. Now, AMFAM pursues innovation at three different levels across the entire organization: operational, transformational, and disruptive, with the ultimate goal being disruption and new business creation. What’s changed is the aspiration and intention to be a leader and disrupter, not a fast follower.

One focus for disruptive innovation is launching new business models such as Assure Start, insurance for small businesses sold directly online. Another focus is venture capital investing in start-up companies and early stage ventures that have differentiation potential. Related to this, in the past two years since Jack Salzwedel has been CEO, AMFAM has acquired Permanent General (a direct auto carrier) and Homesite insurance (home insurance).

Since setting up AMFAM’s enterprise-wide internal innovation program in late 2011, Dawn Mortimer has engaged 60 VIPs (Vital Innovation Partners) from different levels and functions across the business to participate actively in the innovation process. They spend 5-10% of their time to move ideas through the innovation funnel and review hundreds of submissions from employees and AMFAM’s agents. Using BrightIdea’s innovation platform, general and focused challenges have been launched and innovations have been achieved from new mobile apps to claims process improvements. Rewards and recognition for participants at each stage gate — from cash, to public recognition “Roof Raiser” and “People’s Choice” awards, to cool parking spots in the winter — have helped keep employee engagement high. And using a consulting model, the team of 8 innovation engineers works closely with business areas to fund pilot programs and proof of concepts.

AMFAM’s latest innovation endeavor has been focused, led from the top, well-funded, and aligned with overall strategic goals. This success story is still being written, but so far, it’s great to see a company embrace the innovation agenda and make such great progress despite its constraints.

Jennifer is a Director at South Street Strategy Group. She recently received the 2013 “Member of the Year” award by the Association for Strategic Planning (ASP), the preeminent professional association for those engaged in strategic thinking, planning and action.

Topics: South Street Strategy Group, strategy consulting, insurance research, growth and innovation

CMB Webinar 7/25: Creating Brand-Building Customer Experiences

Posted by Amy Modini

Tue, Jul 23, 2013

What do Crayola, Amazon, Cheerios, Apple, and Subway have in common?

Brand building CMB

Over the years they’ve each been named one of America’s most loved brands. Of course there are lots of strong brands (nearly as many as there are “most loved brands” lists) but what is it that makes those brands so strong? No one will deny the importance of the brand name, positioning, or communications, but what these beloved brands have in common is how they deliver their brand experience.When M3 Insurance, Wisconsin’s largest privately held provider of commercial insurance, decided they wanted to strengthen their brand position, they had a few options. One common approach is to invest time and money into a brand’s value proposition and the brand promises they’re making to their customers. A company that takes this approach will spend a lot of time building enthusiasm and energy around a brand position, both internally and externally.  They might have banners, posters, and many companywide meetings to communicate the brand to employees.

There’s a lot of good stuff in this traditional approach, but our experience tells us that it rarely, if ever, goes far enough. Brands that stand out are able to find ways that empower their employees to make decisions that support the brand.  They’re able to articulate how employees can/should act to deliver on the brand promises and benefits—they use each interaction with their customers as a chance to deliver brand value—something even the best company-wide meetings can’t inspire alone.

With M3, our approach was both practical and comprehensive. At center, was the need to ensure customers’ experience aligned with M3’s brand promise. Guided by that core principle we developed a plan to determine how (customer facing) employees should behave to deliver the brand promise. Want to learn how we did it? Join M3’s Traci Mandell and me this Thursday to learn a new approach to developing and measuring truly brand-building customer experiences.

Click here to register.

Posted by Amy Modini. Amy is Account Director for CMB’s Healthcare and Insurance Practice, when she gets the time she loves going to the beach with her two kids.

Topics: insurance research, webinar, brand health and positioning, customer experience and loyalty

Four Keys to a Successful Customer Engagement Strategy for the Insurance Industry

Posted by Kristen Garvey

Thu, Sep 02, 2010

Creating customer loyalty is a challenge for every company and has never been more important than it is today. 

It’s no surprise that the challenge is even greater for low engagement industries like Life Insurance.   (I’m willing to bet you don’t have a frequent customer card from your insurance carrier hanging from your key chain or special offers filling your inbox.) That makes creating “loyalty” in the traditional sense a challenge, but not one that is insurmountable.  It just means loyalty needs to be defined within the practical realities of the insurance industry.

As MassMutual’s Pete Jacques and CMB’s John Martin discussed in our recent loyalty webinar, at the core of this challenge is the need for insurance companies to focus on increasing customer engagement and attachment within the practical realities of their customer relationship.

  1. Make the Concept of “Customer Engagement” Concrete: Customer engagement is not “one size fits all” and needs to be tailored to fit the needs of your customers. It needs to be well defined and linked to business outcomes. Once defined it then needs to be explained internally to key stakeholders in way that demonstrates the link between customer engagement and business outcomes.  By having a concrete plan and set of goals, you can build an engagement strategy and continually test different ways to increase it with measurable results.

  2. Resist the Urge: Resist the urge to blindly adopt what’s working in other industries.  The strategies you routinely see working in other industries simply don’t align with the realities of the insurance setting, but you can learn from what others are doing to customize a program that aligns with your goals. Again, it is critical to get buy-in and share this framework with others in the organization.

  3. Use Fact-based Customer Insights: Using market research as tool to understand the best way increase and maintain strong customer attachment can be accomplished through thoughtful, well executed analysis of insights from the marketplace. This is an opportunity to talk to policy holders and understand their goals and what you can do to help them achieve them.

  4. Use the Right Metrics:  It’s important not to rely on lagging indicators like renewal rates, but use more forward looking measures like the likelihood to shop a policy and recommend your carrier to others.  These forward looking measures help you understand not just the behaviors your customers are taking, but their disposition, which is key to truly understanding loyalty.

Learn more from Pete and John by listening to their webinar and hearing how MassMutual is driving profitability by increasing their customer loyalty.

customer loyalty

Topics: insurance research, customer experience and loyalty

Market Research Shows Meaning is Critical to "The Good Life," Regardless of Age

Posted by Dan Gersten

Mon, Aug 02, 2010

Insurance market researchA MetLife Mature Market Institute study conducted by Chadwick Martin Bailey finds “Meaning” is critical to The Good Life and the young and old have similar priorities.  The study finds meaning, particularly the importance of family and friends, is a primary component to living The Good Life for all age groups. Plus, the study found that most adults want deep relationships and to feel that they belong, in addition to a sense of purpose, financial freedom and good physical and mental health.

Still, while family and friends are of relatively equal importance across all ages and most adults want deep relationships and to feel they belong, one has to wonder how those aspects of “meaning” and the “The Good Life” manifest themselves by age, especially in this day of social media, virtual relationships and friendships with those one has never met face-to-face. 

Insurance market researchPersonally, as the father of a 22-year old Facebook user I have to feel they’re different.  And, the MetLife study supports the premise of “different strokes for different folks,” or, in this case, age groups, revealing that older adults (45-74 years of age) are more likely to belong to at least one (offline) community organization, attend a community organization function, socialize with neighbors, engage in volunteer activities and donate money or goods to charitable causes than are younger adults (25-34 years of age).  Plus, Facebook, which “helps you connect and share with the people in your life” still hasn’t caught on with older adults as it has with those younger (9.8M users 55 years-of-age and older vs. 25.6M users 25-34 years-of-age) per istrategy labs.

So, what are the implications for marketers? 

To begin with, it’s important to recognize that pursuit of meaning, purpose and The Good Life are pretty universal and span generations – and would make for a great resonating headline/tagline.  Secondly, it’s critical to understand that how those goals are defined and pursued is generational, or perhaps more accurately, lifestage-driven.  Younger adults are more likely to pursue “The Good Life” by generating a salary and “using their abilities to accomplish things that matter” while older adults are more likely to “smell the roses” and enjoy their surroundings and personal interests.  So, one headline/tagline…different executions!

Posted by Dan Gersten, an Account Director/Consultant in CMB's Financial Services, Healthcare, and Insurance Practice. Dan is a published author and former reality TV contestant on American Inventor. You never know what Dan will come up with next!

Consumer Spending Report 2010

    Topics: insurance research

    Educating Millenials and Gen-Y: Why Insurance Carriers Need to Get on Board

    Posted by Josh Mendelsohn

    Wed, Jun 30, 2010

    My name is Josh.  I am 34 years old and a pretty smart guy.  I know almost nothing about insurance.  And I am not alone.

    For much of my life I was on my parents' insurance plans.  When I moved out on my own I adopted their auto insurance carrier as my own and took the recommendation of my employer for my health insurance carrier and plan.  And as I move into the next phase of my life with my wife, dog, and baby boy, I know I need Life Insurance but am paralyzed by the process.  In February we conducted market research with over 1500 consumers about their knowledge of their insurance coverage and how they educate themselves about their coverage, finding that many young people are like me, admitting they don't have a good understanding of their insurance coverage in general, wishing they knew more.

    Of course, this presents a great opportunity for insurance carriers who target Gen Y and even moreso for those targeting Milennials, 30% of which admitted they don't have a good understanding of their insurance coverage in general, with 57% of them wishing they had a better understanding.  Sure, everyone knows the duck and the cavemen and all of the other insurance mascots and icons, but which carriers are taking it further to actually help young consumers make smart decisions about their insurance options.

    One company that seems to be moving in the right direction is State Farm. Marketing Daily reported today that State Farm is releasing new TV spots this fall and have launched a new micro site, WhyAgent.com featuring comedian Ben Posner with all the reasons (some pretty funny) why you need an agent. This is an aggressive push for this segment of the market, and our recent consumer pulse data indicates that's probably a smart move for State Farm.


    So how will State Farm reach this younger generation? Online seems to be the most likely channel.  According to the research mentioned earlier, over half (56%) of 18-24 year olds do their insurance research online, while 28% will call the company directly, 34% will speak with an agent and 37% will ask their friends for recommendations. State Farm's big online push with YouTube videos and the new micro site is a great approach, but with 37% asking their friends for recommendations it seems as though more robust social media strategies would have to be on the radar as well. (See what Allstate is doing.)

    Insurance market research


    Buying insurance can be confusing and daunting regardless of age, but even more so for the younger crowd. Like ING Direct did so well in the financial services space, there is a great opportunity for carriers to engage with Gen Y and Millenials through new messaging and media in an educational way.  And with brand awareness extremely high for all of the major carriers it seems time for many to move towards helping people buy with trust and confidence, even if the message is sent through Youtube.


    Posted by Josh Mendelsohn. Josh is our VP of Marketing and loves live music, tv, great food, market research, New Orleans, marketing, his family, Boston and sports. You can follow him on Twitter @mendelj2. 

    customer loyalty webinar

    Topics: insurance research, millennials

    CMB Research: Selling Life Insurance to the Under-30 Crowd

    Posted by Dan Gersten

    Tue, May 11, 2010

    Life Insurance: The investment product that protects more than just one's money

    I previously blogged the purchase of life insurance is driven by the values one holds important and not just by socio-economics and life-stage events, and that many in the "life insurance world" feel that life insurance is not bought; rather, it's sold by motivating people to want to take care of their loved ones or put another way, by appealing to their values of protection, family and tradition. 

    I also wrote this sold-not-bought orientation is primarily due to the notion that life insurance forces people to acknowledge their own mortality, something which people in general, and young adults with their whole lives in front of them in particular, would rather not contemplate.

    A recent online study Chadwick Martin Bailey conducted among 1,500 U.S. consumers this past February, showed people seem to transition from not being insured-to-being insured when they enter their 30's.


    Intuitively this seems to make sense and basis CMB's study:

    • 43% of adults first marry between the ages of 30 and 39 years
    • Between the ages of 25-29 years and 30-34 years there's a 27-point jump in the percent having a child 12 years-of-age or younger (19% vs. 46%)
    • The percent of adults considering "Family" an important value increases 7-points between the ages of 30-34 years and 35-39 years (74% vs. 81%)

    So, while adults in their 30's begin to buy life insurance, what can be done to sell coverage to adults less than 30 years-of-age, adults that, per Jack Weinberg, can still be trusted?  Motivate them to take care of their loved ones?   Perhaps, after all, 38% of those aged 25-29 years get married and 19% of them have a child 12 years-of-age or younger.

    Still, I can recall being that age, feeling rather indestructible, and asking this agent "Why in the world do I need life insurance?"  Especially since, if I were to die, my spouse was young enough to take care of herself and there were parents/grandparents around to provide whatever financial support might be required.  So again, "why in the world do I need life insurance?"

    Because, as I later learned, whole life insurance was more than just a way to protect loved ones; it was also a savings and investment product, building cash value against which I could borrow, if necessary, with little questions asked, since I was, in essence, borrowing from myself.  And, largely thanks to this, each of my children graduated college with no debt!

    So, how to sell life insurance to 25-29 year olds?  Per CMB's study, 32% of 25-29 years olds plan to invest in stocks, bonds, mutual funds, money markets in the next 12 months (ending Feb/March '11), suggesting that an effective approach might be to position and promote life insurance as not insurance per se, but as the investment product that protects more than just one's money!

    Segmentation Best Practices webinar

    Chadwick Martin Bailey's Brant Cruz recently presented Best Practices of Market Segmentationbased on his years of experience he has as CMB's segmentation guru working with clients like eBay, Electronic Arts, Plantronics, and Microsoft.

    Listen here.


    Posted by Dan Gersten, an Account Director/Consultant in CMB's Financial Services, Healthcare, and Insurance Practice. Dan is a published author and former reality TV contestant on American Inventor. You never know what Dan will come up with next!

    Topics: insurance research, Consumer Pulse, market strategy and segmentation

    Barriers to successful product innovation

    Posted by John Martin

    Mon, May 03, 2010

    Today's post is an excerpt from the LIMRA article: The Innovation Imperative, written by CMB Chairman John Martin and Walter Zultowski.

    innovationSuccessful innovation in business, in general, is a scarce commodity, although this is not for a lack of trying. According to Nielsen, there were over 122,000 new UPC's sold in the U.S. in 2008 through grocery, drug, and mass merchandize channels excluding Wal-Mart. Yet only 3 percent of these achieved more than $1 million in sales. Moreover, most of these were extensions of existing brands. Of the top 100 new items, only two were new brands.[i]                                                                                                                     

    Successful innovation in the life insurance business seems to be an even scarcer commodity.  Perhaps at the root is risk aversion.  Here we see a culture that on one hand today should welcome innovation, yet on the other hand has built successful organizations because of caution and the installation of risk minimizers.

    Discussion at a recent LIMRA meeting, however, suggests that there is a strong and growing desire for innovation among insurance industry executives, and many are thinking about, or have actually begun, initiatives aimed at jumpstarting innovation in their companies. In contrast to the consumer packaged goods business, the stumbling blocks to innovation in the life insurance business seem to be ones of both tradition and not knowing how to organize and manage the innovation function.

    So what gets in the way?

    The word "innovation" is prevalent in recent publications and conferences, yet most corporations are plagued by roadblocks preventing them from generating outcomes that are unique and well defined in terms of meeting target user goals.  Let's examine some of the main inhibitors:

    1. A cost minimizing business model that relies on following rather than leading: copying and enhancing what others have proven.

    2. A culture that dampens creativity, focusing on short-term issues such as process improvement rather than market breakthroughs. 

    3. Managers who believe that their technical advances are the only way to go.  A famous example is Edwin Land[ii] who produced a breakthrough with Polaroid film but then expended company resources trying to apply it to moving pictures.

    4. Top-down edicts that override customer-centric solutions leading to the creation of products that do not address market goals or unforeseen competitive countermoves.

    5. Highly controlled organizational contexts where information transfer is limited and suggestions from below are viewed with suspicion.

    6. A myopia that assumes the current product is adequate.  This results in the adding of features rather than a paradigm shift base on what people really need. For an example of this one only needs to look at the technology industry's products and its host of unnecessary add-ons.

    7. Sales organizations driving product development in many companies.  They are not usually interested in innovation but rather small changes in what they know sells or that addresses competitor advantages.

    8. Recognition programs that do not reward risk-taking but allow personal initiatives to flourish, such as increasing power.

    9. Errors in development such as overestimation of market size, product design problems, and the incorrect positioning of products.

    10. Lack of understanding about the position of competitors and unanticipated competitive actions.

    11. Overdue focus on market input, limiting advances to the mundane such as the "me too." For example, many of the greatest innovations started with consumers saying no, such as the Blackberry.

    12. Finally, there is the inability to effectively deal with the creative start for innovativeness.  This problem is compounded by a lack of understanding that people do not easily accept making large behavioral changes.


    [i] "New Products Generate $21 Billion in Sales in 2008." Nielsen Wire.  January 30, 2009.

    [ii] "Despite the tremendous success of his instant cameras, Land's unsuccessful Polavision movie system was a financial disaster, and he resigned as Chairman of Polaroid on March 6, 1980." Wikpedia.  November, 2009.

    Topics: product development, insurance research, growth and innovation