MGM102H5 Chapter Notes - Chapter 2: Disruptive Innovation, Advertising Campaign, Human Resources
Document Summary
Fundamental change: what will you be called on to deal with: the marketplace is becoming more segmented and moving toward more niche products. Before, managers could think in terms of mass markets: mass communication, mass behavior, mass values. No(cid:449), (cid:449)e ha(cid:448)e (cid:862)de(cid:373)assifi(cid:272)atio(cid:374)(cid:863: customer groups becoming segmented into smaller and more specialized groups, more narrowly targeted commercial messages. Shifting away from small number of hits (mainstream products and market) Example: in the internet age, retailers like amazon and apple are not constrained by physical shelf space and can offer a much wider variety of products: more competitors are offering targeted products, requiring faster speed-to-market. Companies offering a broad range of products or services now experiencing pressure to offer specialized solutions and beating competition in speed-to- markets: some traditional companies may not survive radical change. Difficult for existing successful company to take full advantage of technological breakthroughs such as digitalization.
