Post by account_disabled on Jan 11, 2024 1:49:29 GMT -6
Platform like Instagram or Snapchat and wonder why you haven't generated any B2B leads during the month. What we can learn: Business is like a game of chess: it's important to be one step ahead, anticipating your competitors' next move or, ideally, their next five. In this case, we see that the fear of causing disruption stifles genuine interest in the future of the company. Consequently, potential world-changing innovations are ignored and suppressed to maintain a “business as usual” complacency. Highlight: Listen to your people! Products like Gmail and Google News are testament to this . 3. Polaroid: the dark side of innovation Polaroid declared bankruptcy in 2001. But at one point, the company controlled 100% of the instant photography market. When Kodak attempted to enter the Polaroid market, they were successfully driven out through legal action.
At the same time, Polaroid was secretly leading digital technologies and had developed one of the best digital cameras. But internal pressure made it impossible to commercialize, realizing that digital photography would devastate their profits. In fact, a senior manager at Polaroid asked, “Why should we accept a 38% margin? I can get 70% on film.” Sometimes innovations punish you instead of rewarding you. They leave you worse off regardless of whether you pursue them or avoid them. Polaroid was one of the many victims of the dark side of Middle-East Mobile Database innovation. mark-first-fail What we can learn: The lesson here is to learn to sacrifice short-term profits for long-term growth. Planning a long-term strategy will help you reap rewards in the future, which is crucial to keeping your business alive. But sometimes it involves cutting the thickest part of the forest to see the sun. 4. Microsoft Spot: Right product, wrong time.
Smartwatches are far from what we would now call advanced technology, these days almost all watch manufacturers have jumped on the digital bandwagon. But Microsoft was actually the first to invent one: SPOT, smart personal object technology, which had built-in email, FM radio and MSN Messenger. The only problem was that it was launched into a climate that simply wasn't ready to support it, as high-speed mobile phone service had not yet been developed and found consumer demand. Finally, accepting that the world needed to catch up, Microsoft pulled the plug on the Spot mission. What we can learn: Time is of the essence! Release a product when it's good and ready rather than pushing to capitalize on any first-mover advantage. Establishing a product when you know there is a high demand is a no-brainer. However, as marketers, it is equally important to consider the broader social, political, economic and technological environment that will support your product.
At the same time, Polaroid was secretly leading digital technologies and had developed one of the best digital cameras. But internal pressure made it impossible to commercialize, realizing that digital photography would devastate their profits. In fact, a senior manager at Polaroid asked, “Why should we accept a 38% margin? I can get 70% on film.” Sometimes innovations punish you instead of rewarding you. They leave you worse off regardless of whether you pursue them or avoid them. Polaroid was one of the many victims of the dark side of Middle-East Mobile Database innovation. mark-first-fail What we can learn: The lesson here is to learn to sacrifice short-term profits for long-term growth. Planning a long-term strategy will help you reap rewards in the future, which is crucial to keeping your business alive. But sometimes it involves cutting the thickest part of the forest to see the sun. 4. Microsoft Spot: Right product, wrong time.
Smartwatches are far from what we would now call advanced technology, these days almost all watch manufacturers have jumped on the digital bandwagon. But Microsoft was actually the first to invent one: SPOT, smart personal object technology, which had built-in email, FM radio and MSN Messenger. The only problem was that it was launched into a climate that simply wasn't ready to support it, as high-speed mobile phone service had not yet been developed and found consumer demand. Finally, accepting that the world needed to catch up, Microsoft pulled the plug on the Spot mission. What we can learn: Time is of the essence! Release a product when it's good and ready rather than pushing to capitalize on any first-mover advantage. Establishing a product when you know there is a high demand is a no-brainer. However, as marketers, it is equally important to consider the broader social, political, economic and technological environment that will support your product.