Market disruption is the process of dynamically changing the market through agents that is often irreversible or interchangeable. These agents could be individuals or groups of people, products and services or enterprises.
Market disruption happens largely due to innovation influencing the environment. This according to competitive intelligence services innovation may improve accessibility or ease of business. Or create new competition that is difficult to match in the current market dynamics.
The idea of innovation dynamically changing the market is a recurring concept during this modern age. Firstly the rapid industrialization of the economy has permanently changed the structure of societies and has caused institutionalization.
Secondly the advent of new powerful technologies like the Internet has drastically changed our living environment. Forced us to adapt to new conditions by influencing businesses and improving our daily lives to a large degree cute anime pfp.
These are definite examples of how innovation, both instantly and overtime, have influenced the markets. So there is a clear correlation between market disruption and effective use of innovation.
Yet we could go further and claim that it is not just effective innovation. But also intelligent design and understanding of the industry that allows market disruption to take place. So market disruption can be better characterized as a systematic process of changing market dynamics.
So to become a disrupting agent you must characterize yourself and progress through the process of changemaking. Individually, you must first develop a disruptive mindset. The ability to escape from the confines of your surroundings.
Secondly you must choose an industry based on your ability to innovate and the dynamics of that industry. Understanding the industry must be your utmost priority. This includes research, field work and self learning so that you immerse yourself into the market activities of that industry envioscuba ca
Lastly you must develop the ability to innovate. Innovation comes in through intelligent understanding of the environment. Placing yourself outside the box and placing yourself in the industry are two major things. But developing the ability to innovate is a comprehensive process of trial and error as well as developing skill anime pfp.
Netflix started as a paid subscription based television streaming service and quickly became popular. False, Netflix actually started as a dvd rental company and slowly moved towards an app based streaming service.
Netflix now owns its own production studios as well as rights to its own shows. Netflix has introduced popular television series like The witcher, The umbrella academy, Money Heist and the recently famed squid games.
Netflix has overtaken cable network television services as well as popular cinema with its ease of accessibility. Providing online streaming services to everyone subscribed without the need of leaving their homes.
This is revolutionary and the first of its kind. After which many other streaming services were seen to rise like Amazon, HBO, Hulu. Recently disney plus entered the game with a huge potential. Yet Netflix is still arguably the top market leader.
Meta, then called facebook, was the first digital social media platform the world had ever seen. From the absolute sociopathic genius of Mark Zuckerberg, Meta has influenced our society, spreading across the globe like wildfire.
Meta started from university campuses as a cool talking point in college parties and now has become a global phenomenon. Taking on advertising industries, becoming a marketing platform, and hosting digital events. Facebook did it all.
Now it’s moving towards virtualization of socializing with its newly announced metaverse. It is almost uncanny how often Mark is able to create market disruptors that basically end up revolutionizing industries as well as our societies.
Apple started as a computer company, beating HP who was absolutely dominant in the market. Apple can be considered as the peak of innovation technology due to its expertise in marketing and groundbreaking impact on the technology industry.
Apple is the prime example of design thinking done right. Need based innovation is perfectly balanced with traditional practices. Deriving new marketing techniques which are more consumer focused and brand positioning oriented.
Apple has left its mark on the technology industry even after the demise of Steve jobs. Who was the mastermind behind the idea at that time. Not just technology but the problem of marketing technology was largely solved by Steve.
This proved to be a major market disruptor during its time causing other companies to adapt their marketing strategies in order to compete with Apple.
Amazon was the foundation of the ecommerce business. The idea to optimize the supply chain in such a way to provide a marketplace for all. This was during the time when the market was increasingly becoming consumer centric.
Where all the buying power was with consumers who believed in their own information and largely couldn’t be convinced otherwise. So amazon started its own market place completely consumer centric.
Not only that it managed to sell products that otherwise would not have been bought by anyone. The integration of the internet with mass shipping and proper advertisement allowed buyers to meet sellers in an easy accessible way.
According to competitive intelligence consultants Amazon was the first of its kind and has been developing ever since. Reaching across globes and establishing itself in the developing world while already well established in the developed worlds.
Uber is a digital platform where drivers could connect with the riders who otherwise would have booked a cab. Another example of a service that gives more buying power to the consumer.
Where both the buyer of the service and the seller are customers of Uber. Uber became largely popular across continents. Spreading from US, Canada to as far as Indonesia, Malaysia.
Again it was the intelligent use of technology that allowed one idea to cause market disruption.