Final answer:
Creative innovation allowed Dollar Shave Club to disrupt the shaving industry with a subscription model that provided convenience and cost savings, prompting a market shift and competitive responses.
Step-by-step explanation:
Creative innovation is crucial for companies like Dollar Shave Club in addressing major opportunities and problems within their industries. By introducing a subscription-based model for razor blades, Dollar Shave Club disrupted the traditional market, which was dominated by a few large corporations with expensive products. Their innovative approach not only offered convenience and cost savings to consumers but also forced larger competitors to rethink their pricing and distribution strategies.
The advantage of creative innovation is that it can circumvent traditional barriers to competition—such as scale or access to distribution—and introduce a new set of rules as seen in Dollar Shave Club's case. Innovation can significantly alter consumer behavior, leading to a reduced ecological footprint as people move towards products that require less frequent replacement or are more sustainable. This presents both an opportunity for growth and a solution to existing market problems.