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Post by amandayoung3231 on Feb 5, 2014 11:27:26 GMT -6
You always have to be one step ahead of your competor to out do them. If you do not reinvent your self and keep up with what the customers want then you will not have a very successful business. If you make the same product or do the same service year after year with out an upgrade at least. Then people will find the another company who has given the upgrade or reinvention.
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Post by brettstirling on Feb 5, 2014 16:06:26 GMT -6
This video highlights the usual competitive business environment. Disrupting a large company and their products by providing your own that intrigues a fatigued market is a powerful position to be in. That innovation makes a business, and obviously keeps the others on their toes. Also, customers feel when large companies are adding "bells and whistles" just to stretch fads and their earning potential. At some point people begin to realize the diminishing returns from the money spent on products behind the trend of innovation. This marketing style may work for the targeted wealthy customers but for the majority of people, they need more "bang for their buck." In order to compete, larger companies have to form their own disruptors, but by this point they are behind and are dependent on the brand loyalty they hope they have created. I really like this video and hope to apply this some day in my own business model.
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Post by halearnold on Feb 5, 2014 17:48:14 GMT -6
Quite inspiring... as an entrepreneur it is often times stressful going toe to toe with some of the big guys. We are quite literally a Mom & Pop business or "micro" business and have bee doing what we do for over a decade... nearing 15 years now. The changes in our industry have been interestingly stressful. This video is in fact a little shot in the arm, that it is possible to get that needed market share to go to the next level. Some of the comments I have read from my peers in this class point out various aspects and different takes on the video that make sense to a certain degree, I however am just enjoying being disruptive in the industry I am in.
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Post by chelsearickett on Feb 5, 2014 21:06:50 GMT -6
I thoroughly enjoyed this video. I had never heard that concept put in that term before but I found it inspiring. I was able to connect the concept to many companies I wasn't aware were doing just this. Especially when larger companies create smaller, cheaper products for the average person to compete with the smaller companies that specialize in just that. So, when the larger companies have it all, it eliminates the smaller ones. This is something I also see today, very often.
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Post by codylejeune on Feb 5, 2014 22:36:46 GMT -6
Disruptive Innovation is a term describing a process by which a product or service takes root initially in simple applications and slowly evolves growing in size and product. The problem with other companies trying to outsmart these lesser companies is growing too fast and making the product too expensive and confusing to use. This video shows really good examples of Disruptive Innovation.
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Post by kati3 on Feb 6, 2014 14:59:26 GMT -6
I think its better that it is so hard for new markets to break into old successful ones. It keeps competition at a reasonable level while also keeping out just anyone. Consumers want the best quality for the best price and disruptive innovation helps. New markets cant just come in with low grade products and take over, they have to be able to compete and match up to those already existing within the market.
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Post by csimo123 on Feb 6, 2014 19:07:38 GMT -6
I see this all the time with companies giving upgrades after upgrades to make their prices crazy. Personally I like small businesses who produce a couple things at a low cost but really good quality. The term Disruptive Innovation i like, because you are making the bill guy suffer by disrupting them from what they are known for. This is great for small business owners like my dad who used to own a construction company. He had be bad companies but he kept his company small and better quality buildings without upgrades and higher prices.
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Post by racheleperes on Feb 6, 2014 19:22:30 GMT -6
I think disruptive innovation creates more competition in the business world. You have smaller companies that are focused on their customers and satisfying them, and you have your chain and franchise companies that are mainly focused on the products and doing whatever they can to make it better. Small companies, because they are focused on their customers, have a better outcome of return customers. as compared to larger companies who aren't as focused on making their customers happy, but rather making the money.
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Post by brittanycompton on Feb 6, 2014 22:38:08 GMT -6
While watching this video I immediately thought of Walmart. Most people who shop there are not looking for anything fancy and they are looking for the best price. this is completely different from a place like wholefoods. I think it is is good to have different options on where people like to shop. Nowadays I feel like companies need to be low cost and basic because of how the economy is. There are many things that are very pricey so consumers need to save somewhere. At my place of business I don't think of us as the disruptive innovator because we are definitely not the cheap super cuts down the street. I believe that you get what you pay for. If you want to take the grocery for example I like to eat healthy and put food in my body that is high quality so Walmart would not be the place where I buy groceries.
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Post by shantel on Feb 8, 2014 14:51:36 GMT -6
Innovation is great to have in any industry. However innovation is very hard to accomplish if you don't have creative people or way to generate creativity. Also innovation is great in every market however, sometimes classic products are still in demand. So it's important for business to recognize what is worth or keeping the same. Moreover things will continue to be innovated and change our way of doing things. Also innovation starts with a need, and if we can recognize that need and find away to improve it then we will have innovation.
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Post by darnette on Feb 8, 2014 23:34:15 GMT -6
The bells and whistles are great but are just interrupting and confusing old customers. Give them a product they will enjoy and save money on. Smaller and newer markets are now a threat to the previously existing markets because they are creating products that customers have been wanting, and at a lower price. Newer markets and businesses are stealing the customers from the major firms and disrupting their profits and forcing them to change and become more innovative.
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Post by dnewson on Feb 9, 2014 15:14:08 GMT -6
This video hits on a very good point for businesses, not only do you want to appeal to one particular set of consumers that would be interested in a certain product and be willing to pay the cost, but they must also offer the same type of product to another demographic group that may like the product but are unable to purchase. Just as the example was given in regards to Proctor and Gamble and the selling of their white strips, a lot of consumers are interested in teeth whitening but may not be able to afford to go to their dentist for teeth whitening treatments but would willing to purchase the strips at a lower price. So as the video states "be a disruptor not disruptive", and your business is guaranteed to benefit from this quote.
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Post by asanchez on Feb 9, 2014 15:26:58 GMT -6
I had never heard of disruptive innovation before this video, but it's an interesting idea of how a smaller company can take over a market for them. I think it's a good strategy and could probably be a good way to keep bigger companies from becoming monopolies. I believe strongly that our economy is best when there are many small companies making products instead of large conglomerates who take over markets. If more small businesses use disruptive innovation, I believe our economy would be much better off.
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Post by godwesso on Feb 9, 2014 22:47:16 GMT -6
Disruptive innovation does not work in all industries, it is a good concept and idea. But is a very risky one especially if an industry has established players or requires a lot of capital to start. I feel like a lot of research and planning by the 'disruptor' is important and very essential when trying to enter a market. The video is a little confusing because it also gives big corporations ideas on how to work against and deal with disruptive innovation.
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Post by jessicaratelle on Feb 11, 2014 9:25:01 GMT -6
Disruptive innovation is something that happens all the time in the work place. It is so true that some customers just want the cheaper alternative. Sure, there are the rich people who always want something bigger and better but you have to think about the norm. The norm of people are just average. And then there are those like college students, who always want the cheapest possible option. The businesses that focus on all customers in different segments of the market will be the ones who are successful.
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