Quite often, when doing competitive analysis and market share reviews, we are busy analyzing direct competitors whereas there is a different category that is slowly eating into our segment, which has not even come into our radar or attention.
Sometimes, the realization happens quite late and then either you have to live with that reality or go back to the drawing board and change your business model completely.
Here is a great example of how the #camera industry thought that it would be impacted by the explosion of digital cameras, but it was the smartphone segment that ate up all their revenues, year after year with constant improvement in its camera technology.
A clear lesson for all the players across industries. It is not about how your market share is changing but more about where is your consumer going with his or her money. #Netflix sums it up quite well when it says that is not competing with the other #OTT players, it is competing with sleep!
Sometimes, the realization happens quite late and then either you have to live with that reality or go back to the drawing board and change your business model completely.
Here is a great example of how the #camera industry thought that it would be impacted by the explosion of digital cameras, but it was the smartphone segment that ate up all their revenues, year after year with constant improvement in its camera technology.
A clear lesson for all the players across industries. It is not about how your market share is changing but more about where is your consumer going with his or her money. #Netflix sums it up quite well when it says that is not competing with the other #OTT players, it is competing with sleep!
