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Displacement
1. When you think about your competitors, always think beyond just your direct competitors. What products or services can displace the need for your service in the future? How your customers' may needs change and impact the need for your service or product.
I always hear politicians talking about the need to simplify the tax code. If this does happen, many accountants will need to find ways to add value to their clients beyond just making the process simpler.
Tablet Computers
2. The recent success of the iPad tablet computer is interesting to think about. Tablet computers have been around for at least 8+ years. But they never really took off. Did Apple have good timing with the success of the iPad, or did something else contribute to their success?
Who introduces a product?
3. Would you agree that WHO introduces a new product may determine whether the product will be successful or not? In order words, would you agree that who introduces a product will have something to do with whether the product will succeed or not?
A company with a BIG name such as Apple can succeed better at introducing a new product than a company without such recommendations. In order words, a product can be not as new or not performing as a customer might expect, but because it is Apple that introduces it, the product might become interesting to the eye of the customer.
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Solution Summary
This solution discussed displacement, tablet computers and the introduction of a product.
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Displacement
1. When you think about your competitors, always think beyond just your direct competitors. What products or services can displace the need for your service in the future? How your customers may needs change and impact the need for your service or product.
I always hear politicians talking about the need to simplify the tax code. If this does happen, many accountants will need to find ways to add value to their clients beyond just making the process simpler.
I believe a number of issues can displace competitors in the future. For example, a person will use their phone for everything, and he or she may not consider going to the actual store, but may choose to order whatever is needed through an application or online. This can hinder a business in which to make sure that they are willing to adapt to these necessary changes or risk losing business in the future. Another consideration is that of the economy. For instance, when the recession became prominent, many people chose to make sure that they had the money before getting what it is they needed or wanted at that time. This meant buying online more frequently than in-person. Each individual also cut back on spending habits because of inflation, and the need to conserve in order to survive. Ultimately, businesses were hurting, and had no ...
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