The widespread adoption of technology and electronic media has drastically altered the set of products consumers compare prior to making a buy decision. On-Line platforms have triumphed at drawing linkages among products by emphasizing those that bought jointly, appraised, or are favored.
However, regardless of the increase in client and product inter connectedness across markets, managers continue to make choices based mainly on the dynamics of rivalry within narrow product classes. In this specific article, we raise the call for a migration from a class-centered mindset to an ecosystem-focused strategic mindset that accounts for the network of related or unrelated entities that a particular merchandise rests in and recognizes.
We narrate as a precedent the importance of this shift using examples of setting, selection, and customer networks from platforms that are on-line that are popular. We then discuss the impact of the shift in tactical mindset toward ecosystems on market segmentation, market research, brand footprint analysis, group ecosystems, promotion planning, new product development, customer valuation, strategic alliances, and competitive structure evaluation.
PUBLICATION DATE: March 15, 2014 PRODUCT #: BH596-PDF-ENG
This is just an excerpt. This case is about LEADERSHIP & MANAGING PEOPLE
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