E-cigarettes – disruptive innovation or a pipe dream?
This case looks at the global exponential growth of e-cigarettes. E-cigarette companies were predominantly small, entrepreneurial, usually web-based start-ups, rather than Big Tobacco. We look at the origins of e-cigarettes from a multi-dimensional perspective, including marketing and advertising, sales channels, the reaction of anti-smoking groups, Big Tobacco’s reaction and governments and regulators, identifying the threats and challenges to this fledging market disruptor.
To consider the marketing of reduced-harm products, the interaction between marketing and regulatory bodies, and the difference in marketing strategy between new entrants and incumbents.
Consumer Goods, Tobacco
Until 2013
Cranfield University
Wharley End Beds MK43 0JR, UK
Tel +44 (0)1234 750903
Email [email protected]
Harvard Business School Publishing
60 Harvard Way, Boston MA 02163, USA
Tel (800) 545-7685 Tel (617)-783-7600
Fax (617) 783-7666
Email [email protected]
NUCB Business School
1-3-1 Nishiki Naka
Nagoya Aichi, Japan 460-0003
Tel +81 52 20 38 111
Email [email protected]
IMD retains all proprietary interests in its case studies and notes. Without prior written permission, IMD cases and notes may not be reproduced, used, translated, included in books or other publications, distributed in any form or by any means, stored in a database or in other retrieval systems. For additional copyright information related to case studies, please contact Case Services.
Research Information & Knowledge Hub for additional information on IMD publications
In late 2021, Puneet Chhatwal, CEO of Indian Hotels Company Limited IHCL, found himself grappling with a new challenge beyond the impressive growth numbers the company had achieved since his tenure began in 2017 sustainability. Having led IHCL, t...

When a Saudi consortium led by utilities giant Acwa Power signed $8.3 billion in deals this July to build seven solar and wind projects across the kingdom, it marked more than just another line entry in the country’s growing clean energy portfolio...

As companies move from generative AI (gen AI) pilots to scaled efforts with measurable outcomes, many incumbents struggle to turn ambition into impact. Despite rising adoption, most gen AI initiatives fall short on ROI, highlighting the complexity...
Research Information & Knowledge Hub for additional information on IMD publications
in I by IMD Brain Circuits 26 August 2025
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
in I by IMD
Research Information & Knowledge Hub for additional information on IMD publications
Case reference: IMD-7-2648 ©2025
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
in HBR.org 25 July 2025
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications