Wednesday, June 13, 2007

"And which market do you cater to?"

The evolution of our mature marketplace, along with the technology that allows consumers to be in control, has created a seismic shift from one-size-fits-all mass markets to millions of markets of self interest. All mature markets inevitably evolve into this kind of economy, driven by ever-narrower markets of desire and ever-narrower facets of individual self-identities.
Obviously, as every market matures, choice increases. Then competition drives up quality and convenience to the point at which offerings become 'commoditized'. The only businesses that then thrive are those that move beyond "me-too" or incremental offerings to marketing more-relevant and more differentiated products and services. The only way to accomplish this is to focus on a narrower target.

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