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Post by cfrederic on Apr 6, 2014 22:16:41 GMT -6
I have never heard of disruptive innovation before. Disruptive innovators see what a larger company is doing and uses that idea to their benefit to increase their market value. They basically do the same thing but in a most cost effective way. This is a smart way to create business for companies that aren't the major players. When competing with the corporate world you have to know how to outsmart competition and build relationships with customers to maintain a successful business.
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Post by briandavis1 on Apr 8, 2014 15:34:34 GMT -6
A disruptive innovation is when a new market breaches into existing markets and disrupts their sales by creating a product similar to the competitor but without all the extra baggage. Competition is part of business competition allows customers to get lower prices. The competition is key to having a successful market.
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Post by ashleysegalla on Apr 24, 2014 9:12:18 GMT -6
It is better to be the disrupter than the disrupted. In order to disrupt a large company, a smaller company must focus on advertising and manufacturing to a large group of people in a cost efficient way. They do not need to appeal to the wealthy by adding all the bells and whistles. I have been tutoring math since I was in high school. I was able to get business by providing good services, without making people pay too much. They could have easily sent their children to Sylvan or any other tutoring company, but since I provided a cost effective and efficient tutoring service, they were willing to come to me for business.
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Post by joshuabrungart on May 2, 2014 15:18:54 GMT -6
With the way the economy has been on a decline in the last few years, cost of products is a big determining factor on what products consumers will purchase. Consumers are looking for lower cost products and are more price conciencious than they have been in the past. So if a new company can come into a market and offer consumers a similar quality product at a lower cost, customers are going to at least try the lower cost to see how it compares. And although this consumer swap could be detrimental to a long time leader, it can mean success for a new no name entrant.
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Post by joshuabrungart on May 2, 2014 15:21:15 GMT -6
With the way the economy has been on a decline in the last few years, cost of products is a big determining factor on what products consumers will purchase. Consumers are looking for lower cost products and are more price conciencious than they have been in the past. So if a new company can come into a market and offer consumers a similar quality product at a lower cost, customers are going to at least try the lower cost to see how it compares. And although this consumer swap could be detrimental to a long time leader, it can mean success for a new no name entrant.
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Post by paigecrawford on May 3, 2014 10:55:29 GMT -6
This video seems to simplify a complex scenario. It states that in order for a smaller company to compete with a larger company, it is important to give the customer what they want at a lower cost. It is basically saying to stay focused on your main product because while you are improving your product to become more user friendly, the other company is making their product more expensive and complicated. I think the idea behind this video is nice, but I don't think real life would be as simple as what it is saying because it is hard for smaller companies to improve their product and compete with larger company's prices.
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Post by kierras91 on May 6, 2014 10:31:48 GMT -6
I think this is a waste of time, there is always gonna be a new business that is going to offer more or something at a cost so people can come to them. Its a marketing strategy,big companies have the resources to buy out other companies but if they were smart they would use them as a way to conquer other fields on the consumer mart that need help.
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Post by kristendodd1 on May 6, 2014 18:14:19 GMT -6
When owning your own business you should always be one step ahead of your competition. By doing this you should keep your business up to date with the trends in the economy. Without this your business will not be very successful. If you do not do this your business will not be up to date and will overall lose business.
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Post by brandonnajolia on May 7, 2014 17:19:04 GMT -6
I thought that a great example of this video that came to mind was the Iphone vs Android battle we have today. To me, the newest Iphones that Apple cranks out each year have very small updates, focusing more on new colors and other worthless junk. I feel that Apple over serves their customers with expensive yet useless bells and whistles that they say reinvent the Iphone year after year. Android on the other hand is gaining more and more popularity by simply listening to what the customers want and providing the people with greatly better products than the last model. I think that the Android will keep improving and leave the Iphones in the past like a razor phone.
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Post by Shondrea Lovette on May 10, 2014 22:01:32 GMT -6
In the business world everything should be on a level plain field. In business there not little I's and Big U's everyone should be treated fairly. Partial treatment to some can quickly cause a business to lose potential customers and existing customer if everybody is treated fairly. Because every little bit help in the growth of a business.
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Post by Spencer Ragas on May 12, 2014 12:57:59 GMT -6
Don't be afraid of the big businesses, because often, they are looking at you to develop their own business models and execution.Oftentimes, like the video said, it is the smaller companies that can actually change or shape the mindset of the larger companies. Larger companies depend upon their large customer base and are confident that the loyal few won't leave. However, when the same product is offered for a smaller price and is competitive to the current model, even the most loyal customers can be known to bail on their long-time loyalty.
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Post by wdeben on May 12, 2014 19:56:29 GMT -6
I felt like the whole video was about Dollar General and their takeover of some customers from Walmart. We have been talking about this in finance some. DG seems to offer many of the same items as Walmart at a lower price. Since they try to be more selective and not provide successful a wide array of products they are able to be more efficient.
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Post by jgilhaus on May 13, 2014 12:15:25 GMT -6
Disruptive innovation reminds me of a niche market. While these can be successful, I think in the long-run that they are not. Another thing about this video is the idea that people want to support the local, smaller stores rather than the large, national stores. "Buy local." While many people preach this, most people continue to shop at Wal-Mart and the like because it's cheaper. Larger stores are able to compete easier because of economies of scope and scale. Niche markets make it difficult to achieve these same economies of scope and scale.
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