February - Reflections and Chat
Has your product/service offering outlived its true market value? Like many an aging athlete, a business owner often fails to admit to the time decline in the value of their product and thus the importance of initiating other options. Corporate Diversification: Opportunities Created by the Winds of Change opens on this topic.
A current example of this is Gillette. It rested on its laurels since its initial success during World War I. However, the high price of its blades opened it up to eventual price competition from the likes of Dollar Shave Club and Harry's.
February Chat Subject. Reader input welcome!
Two readership questions:
1. How do you best measure a product/service life-cycle other than by sales?
2. What is your preference for a product's competitive longevity?