Large companies often attribute disruption in their business to new technologies or startups. However, research shows that customers play a more significant role in driving disruption. They decide whether to adopt or reject new products and technologies.
Startups disrupt markets by taking away select customer activities from incumbents. These activities are the ones that customers are not satisfied with.
Disruption is driven by customers. The technologies that stay are the ones consumers choose to adopt. By focusing on changing customer needs and wants, companies can respond more effectively to digital disruption. Read more this HBR article here
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