Market Decline or Shift?
Does your Market Decline or Shift?
The ‘decline of the high-street’ has been regular news for the what seems like forever. Few weeks go by without another casualty hitting the headlines. Talking with a group who are dealing with this got me thinking - is it market decline or market shift? Take Blockbuster for example, they filed for bankruptcy, blaming a declining market. In reality, their market was larger than ever, it had just shifted towards the online & digital space.
So, what can we learn from this? Sure, some markets disappear, but most shift. And these shifts cause disruption that product managers can either embrace and take advantage of or ignore and find their products and services irrelevant.
Don’t get left behind by your market because of stubbornness or short-sighted, tactical thinking.