Create and own your new market category.
If you're lost in a crowded market,
then it's time to create and own your category.
Product strategy defines how your product works. Company strategy defines how your organization works.
Category strategy focuses on the problem that you are trying to solve in the market, and can be considered as a "container" for the problem, that only your company can solve.
Category strategy isn't marketing.
It's also not positioning.
It's about creating something new.
Markets today are noisy, and the market leaders take all.
Category leaders can often take 80% of the market share and market valuation, leaving everyone else fighting for the remaining 20%.
Achieving success up in a well-defined market is hard — as market leaders often take all.
Category leaders are everywhere. They stand out.
They lead in market share, usage and/or revenue.
(And the followers—less so.)
Ride sharing: Uber
Online search: Google
Social media: Facebook
(vs Instagram, SnapChat)
Productivity software: Office 365
(vs Google G Suite)
File storage: Dropbox
(vs Box, OneDrive)
Cloud services: AWS
(vs Azure, Google Cloud Platform)
Customer relationship management: SalesForce
(vs Dynamics 365)
(vs Android tablets)
Focuses on the problem and category
No competition (It's a new space)
Focuses on the product and features
Positioning around your competitors