Technical and technological change, new market paradigms and constant administrative progress force companies to innovate and new and well-structured ideas are the ones that can be imposed in the global world
Market structures are not always eternal, companies that currently lead a market may become obsolete in the future, the ability to improve and adapt is the main element of value generation in a world that is constantly changing. Market structures are quite fragile, and companies must constantly think, rethink, reposition and innovate their positions so as not to fall behind in their market shares or even no market at all.
In a competitive economy, progress is constant, and what today represents a market strength may turn into a weakness in the future. It is necessary to constantly seek market opportunities to achieve the goals proposed today.
Peter F. Drucker, on the notion of opportunity explains:
Innovate
The true success of companies lies in their capacity for innovation, a fact that is clearly reflected in companies like Microsoft
Of course, those who innovate have nothing to lose and much to gain, since if their idea is very good, they will probably succeed quickly.
As an example, it would be important to highlight the failure of the Sony brand in the case of its Beta movie format, and as by rethinking its strategy it is now the main VHS seller in the world or as by innovating, it replaces brands like Nintendo in your PlayStation game consoles. Its success lies in its ability to rethink and innovate.
Apart from the notion of opportunity, it is also important to consider the importance of product differentiation. Where concepts such as Exclusivity, Privilege or Fashion play a fundamental role.
When we think of a Ferrari, a Coca Cola or a Beer in particular, there will always be a notion of brand, quality and price. Conquering markets also depends on taking these elements into account in order to be successful in a potential market. Customer loyalty, the concept of a club or group and social differentiation are factors we like or not to take into account.
In addition, innovation also depends on factors such as presentation, advertising and marketing, a case that is seen in products such as French fries where packaging, advertising or the different hooks such as promotions, awards or attachments to products can serve to win the award. battle of the markets.
Competitiveness
In a competitive economy, progress is constant, and what represents a market strength today may turn into a weakness in the future
All these notions show us that to be a good entrepreneur it is necessary to know how to innovate, seek opportunities and work hard, constantly rethinking the objectives to be pursued and the targets to be targeted.
