Market disruption
Market disruption occurs when a new product or service significantly changes the way an industry operates, often displacing existing market leaders.
What is Market Disruption?
Market disruption happens when a startup introduces a revolutionary solution that challenges traditional industry norms.
Why It Matters
Understanding market disruption helps startups identify opportunities to innovate and gain a competitive edge in crowded markets.
Examples
- Uber: Disrupted the taxi industry with its ride-sharing platform.
- Netflix: Disrupted the entertainment industry by shifting from DVD rentals to streaming services.
Related Concepts
- Innovation: Driving force behind market disruption, creating new solutions to meet evolving consumer needs.
- Adaptability: Key for startups to respond effectively to market disruptions and stay ahead of the competition.