Quotes About Market

In the course of the changing relationship between those who produce art and those who need and buy it, the structure of art changes, not its value.

I figured I'd spend my first thousand years of Hell in some entry-level position, but after that I wanted to move into management. Be a real team player. Hell is going to see enormous growth in market share over the next millennium. I wanted to ride the crest. The agent said that sounded pretty realistic.

Will flash cards invade the disk drive makers' core markets and supplant magnetic memory? If they do, what will happen to the disk drive makers? Will they stay atop their markets, catching this new technological wave? Or will they be driven out?

New products succeed not because of the features and functionality they offer but because of the experiences they enable. If

Competitiveness is far more about doing what customers value than doing what you think you're good at. And

Disruptive innovations, in contrast, don't attempt to bring better products to established customers in existing markets. Rather, they disrupt and redefine that trajectory by introducing products and services that are not as good as currently available products. But disruptive technologies offer other benefits—typically, they are simpler, more convenient, and less expensive products that appeal to new or less-demanding customers.3

They must be plans for learning rather than plans for implementation. By approaching a disruptive business with the mindset that they can't know where the market is, managers would identify what critical information about new markets is most necessary and in what sequence that information is needed.

Disruptive technologies bring to a market a very different value proposition than had been available previously. Generally, disruptive technologies underperform established products in mainstream markets. But they have other features that a few fringe (and generally new) customers value. Products based on disruptive technologies are typically cheaper, simpler, smaller, and, frequently, more convenient to use. There

Innovation is less about producing something new and more about enabling something new and important for customers.

hedonic regression analysis expresses the total price of a product as the sum of individual so-called shadow prices (some positive, others negative) that the market places on each of the product's characteristics

railroads fell into the trap of letting the product define the market they were in, rather than the job customers were hiring them to do. They

As Medicare, Medicaid, and private health assistance companies pervasively inserted themselves between patients and providers, the market ultimately evolved toward what economists call monopsony—where a few huge, powerful buyers essentially determine the prices they will pay to their more fragmented suppliers.

Walkman cassette player was temporarily put on hold when market research indicated that consumers would never buy a tape player that didn't have the capacity to record and that customers would be irritated by the use of earphones. But Morita ignored his marketing department's warning, trusting his own gut instead. The Walkman went on to sell over 330 million units and created a worldwide culture of personal music devices.

anticipated opportunities—the opportunities that you can see and choose to pursue. In Honda's case, it was the big-bike market in the United States. When you put in place a plan focused on these anticipated opportunities, you are pursuing a deliberate strategy.

The leading firms in the established technology remain financially strong until the disruptive technology is, in fact, in the midst of their mainstream market.

In fact, the prospects for growth and improved profitability in upmarket value networks often appear to be so much more attractive than the prospect of staying within the current value network, that it is not unusual to see well-managed companies leaving (or becoming uncompetitive with) their original customers as they search for customers at higher price points.

They are always motivated to go up-market, and almost never motivated to defend the new or low-end markets that the disruptors find attractive. We call this phenomenon asymmetric motivation. It is the core of the innovator's dilemma, and the beginning of the innovator's solution.

Study after study, however, concludes that about 90 percent of all publicly traded companies have proved themselves unable to sustain for more than a few years a growth trajectory that creates above-average shareholder returns.

Identifying disruptive footholds means connecting with specific jobs that people—your future customers—are trying to get done in their lives.

A product becomes a commodity within a specific market segment when the repeated changes in the basis of competition, as described above, completely play themselves out, that is, when market needs on each attribute or dimension of performance have been fully satisfied by more than one available product. The

Hence, because flash cards are being used in markets completely different from those Quantum and Seagate typically engage—palmtop computers, electronic clipboards, cash registers, electronic cameras, and so on—the value network framework would predict that firms similar to Quantum and Seagate are not likely to build market-leading positions in flash memory. This

But this book is not about companies with such weaknesses: It is about well-managed companies that have their competitive antennae up, listen astutely to their customers, invest aggressively in new technologies, and yet still lose market dominance.

if new technologies enable new market applications to emerge, the introduction of new technology may not be inherently cannibalistic.

the more successful approach has been to find a new market that values the current characteristics of the disruptive technology. Disruptive technology should be framed as a marketing challenge, not a technological one.