How much do we need to reinvent the wheel?

While taking care of some of my most important industry research of the day, I came across this brilliant read that reminded me of the balance needed in marketing.

Of course, this example is an extreme. But sometimes, after getting absorbed in some intense competitor research, we might find ourselves a bit closer to this scenario than we’d like.

No, we’re not going to blatantly rip off a brand name like Coke. But what about “borrowing” just one piece of a competitors’ overall strategy?

Just about every company that bottles beverages has offered the prize on the cap promotion. Who did this promotion first? Did the company that followed put their own spin on it?

With a lot of creative work – marketing or otherwise – we don’t always want to reinvent the wheel. If everyone had to come up with completely original ideas all the time, creative projects would take a lot more time – and be a lot more frustrating.

If a strategy was successful for a competitor, it’s clear they were on to something. If we reuse that something, though, will our customers realize it? If they do, will it impact us negatively?

How much of our own flavor do we need to add to a marketing idea to avoid the risk of being labeled as a cheap knock off…or worse, a joke? Just how much do we need to reinvent the wheel?