Is the surf clothing company, Quicksilver, entering the cellular phone business? Don't know. Officially, there is no word on the topic. Unofficially, this Pac-Man-shaped phone is their go at a totally awesome mobile phone. Over-shaped when closed and awkward-shaped when open to reveal a larger screen.
Implications - Companies that expand beyond their initially intended industries and into completely unrelated ones are making a very risky move that could make or break their image. For consumers, the second a company seems like it exists for the sole purpose of making money is when the loyalty fades. Thus, companies must make sure they research their demographic before making an attempt to expand.
What Makes This Trend Stand Out
- Expansion Into Unrelated Industries
- Companies that expand beyond their initially intended industries and into completely unrelated ones are taking a risky move, but it can present disruptive innovation opportunities.
- Diversification Strategies
- Businesses must research their demographic thoroughly and develop diversification strategies to ensure successful expansion into new industries.
- Maintaining Brand Loyalty
- As companies venture into new industries, they must be cautious not to jeopardize their brand loyalty and reputation among consumers.
Sectors Adopting This
- Cell Phone Manufacturing
- Quicksilver's entry into the cell phone industry shows disruptive innovation opportunities in merging fashion and technology.
- Surf Apparel
- The surf clothing industry can explore expanding their product lines by incorporating technology, like Quicksilver's move into cell phones.
- Market Research and Consumer Studies
- There is a growing need for market research and consumer study services to help companies make informed decisions before venturing into new industries.
