The Business Model: How To Develop New Products, Create Market Value And Make The Competition Irrele
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The erosion of barriers to entry in manufacturing will reduce the number of players in a market space. Market competition, on the other hand, is more likely to dissolve when products and services become less specialized and the value proposition no longer creates a unique differentiation in the market. When there are multiple products or services that allow the same end-to-end activities for the same cost or lower, the market becomes asynchronous where the value comes from an arrangement of different inputs and outputs. Gaining market share against the competition in both cases is unlikely with a more generic value proposition. In fact, it is likely that the competition will crowd out traditional players and result in a lengthy period of market consolidation.
The risk companies face in a world without traditional barriers to entry is not missing out on profits but missing new profits. Over the last 40 years, the reason that many companies have lagged behind the competition is not that the innovations came first, but that it was cheaper to buy the innovation from someone else than to create your own. Such barriers to entry were a necessary condition for the survival of companies, but they were also a trap that companies could not get out of without getting killed by the competition.
Today, things are quite different. Rapid advances in information technology, including 3D printing and other manufacturing techniques, transformed the cost of creating unique products by eliminating the need for traditional barriers to entry. d2c66b5586