Monthly Archive
for: ‘January, 2018’

“Business as Usual” Marketing Fails Another Innovative Product: Lithium Ion Batteries for Power Tools

We love to rate innovations as “success” or “failure”. Yet most innovation suffers a far more ignominious fate:  mediocrity. And that sums up the introduction of Lithium Ion (LI) Batteries for power tools. Power Tools & LI technology’s tremendous market advantage. Compared with their NiCAD predecessors, LI batteries offer outstanding buyer value for cordless tools. First, there’s a power advantage which can be used one of two ways: LI can be used to deliver more power in the same package. LI can be used to deliver the same power in a lighter weight package. Then there’s an incredible set of charging advantages: LI batteries charge faster (a major issue for tool users). LI can be re-charged at any time without building battery memory. LI hold their charge well. After 1 year they usually retain 80% of the original charge. All this adds up to tremendous advantages for power tools users. Yet they limped slowly onto the market. Even today, tool purchasers hesitate to pay a premium for LI based tools. “Business as usual” marketing drives mediocrity. Too many marketers fail to recognize the critical importance of major communication when they introduce products. Marketers also do a poor job of identifying products that need in-depth communication – like LI batteries did. It’s a world made more complicated because innovation has to fight for marketing dollars with the desperate needs of the existing products. All that leads to the most common answer –  “business as usual” (aka “lets just do what we always do”). So these batteries […]

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