How Redefining Competitors Can Revolutionize Your Enterprise Technique | by David Gattig | Mar, 2024

“We’re residing at a time when consideration is the brand new foreign money.” — Pete Cashmore

Diving into the center of at present’s market dynamics reveals an enchanting evolution within the idea of competitors. Gone are the times when our focus was solely on those that provided related services or products.

Now, the world is way wider, encompassing something and the whole lot that calls for the time, consideration, and assets of our clients.

This shift in the direction of an all-encompassing view of competitors is important for any enterprise striving to remain forward of the curve in a world the place shopper preferences are as fluid as ever.

Take Netflix, for instance. The streaming big, below the management of Reed Hastings, has taken the idea of competitors to a completely new stage. For Netflix, the competitors isn’t restricted to different streaming platforms like Amazon Prime or Hulu. It’s about recognizing that even a bottle of wine or a great evening’s sleep could be seen as rivals.

This broadened perspective on what constitutes a rival challenges us to rethink our methods, pushing us to discover deeper into what our companies…

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