MGM102H5 Chapter Notes - Chapter 2: Behavioural Sciences, Goal Setting, Kurt Lewin
Document Summary
Mgm102h5s - management in changing environment (winter 2017) Trends shaping the future of business: the marketplace is becoming more segmented. In recent years, managers could think in terms of mass markets (mass communication, mass behaviour and mass values) Now, we have demassification with customer groups becoming segmented into smaller and more specialized groups responding to more narrowly targeted commercial messages. Ie. in the internet age, retailers such as amazon and apple are not constrained by physical shelf space and can offer consumers more product varieties: competitors offering specialized solutions require we get our products to market faster. Companies offering a broad range of products/services are now experiencing intense pressure from competitors offering specialized solutions: some companies are unable to survive disruptive innovation. Disruptive technology - a process by which a product or service takes root initially in simple applications at the bottom of a market and then relentlessly moves up market, eventually displacing established competitors.
