Wednesday, 19 April 2017

Old Technology New Perspective

Out with the ancient, in with the innovative! That's the standard path of innovation. PCs killed typewriters, for example. Smartphones outdated telephones, pocket calculators, and point-and-shoot cameras. Every once in a while, however, an ancient technology rises from the ashes and finds novel life. : Rebirth 

It is feasible for softwarecompanies in India to prolong the life expectancy of some technologies, along with the organizations and communities that back them. Successful companies may be able to relocate a 'dying' technology by redefining its individuality and value for the customer. When things looked truly bad for the mechanical watch industry, when the industry seemed on the verge of breakdown, watch collectors started purchasing mechanical watches at auction at best prices. This sent a signal to the industry that there may still be hidden value in what they supposed was a dead technology. And so these collectors become almost like canaries in a coalmine, in a respectable way. They sent a signal of optimism that there might still be value there.  

Redefining an industry's worth also means redefining the rivalry. And in order for a technology to resurge, the entire industry must do that. In the case of the Swiss, for example, they were no longer challenging against the Casio and Seiko of the world, but rather creating a fresh market for luxury watches. 

Another example is fountain pens. The industry sold roughly 45 million units in 1960s. Sales then plunged to approximately 7 million units by 1980s due to the rise of the ballpoint pen. But in 2010s, annual sales of fountain pens had rebounded to almost 20 million units. The reason: Fountain pens were now advertised not simply as practical writing implements, but also as sentimental fashion accessories. As such, they were not truly in the identical competitive market as ballpoint pens anymore.

 The question becomes whether ASPDOT NET software companies in India re competing on the old terms or on a set of new terms. And industries that successfully re-emerge are those who redefine their competitive set - the group of organizations upon which they want to contest and the value proposal that they send to the consumer.  

A few years ago, it seemed like mega-chains like Borders Books might crush independent bookstores. What happened instead was that online booksellers sucked Borders, which had secured all of its super-stores by 2010-2011. Meanwhile, the independents are gradually re-emerging. In 1995, the American Booksellers Association had a membership of about 5,500 stores. By 2009 that number had dropped to 1,401. But the number has rejuvenated a bit to 1,632 currently. While Borders was competing on price the independents were falsifying a renewed competitive identity. Independent bookstores were created on the idea of community building and today they have moved their sole focus away from the books they sell—Amazon can do that. Rather, they have shifted their focus to build communities for their readers. They've connected with consumers' craving to be with others who are like themselves. The Swiss understood the significance of helping consumers build an emotional link with their watches. The same holds correct for the independent bookstores that are getting it right. To endure, they're shifting their organizational identities to generate emotional value in their communities.  

The value of some products may go beyond pure functionality to hold non-functional aspects that can influence consumer buying behaviours although it is unlikely that such emotional or self-expressive benefits will totally trump function, exploring these other elements can offer c#software companies in India with valuable extra time to progress possible adaptation or repositioning strategies. 

The lesson for asp.netsoftware companies in India is that a new technology is not always the only way to get ahead of the arc when older technologies or industries seem to be reaching the expiration of their life.

No comments:

Post a Comment