Deliberately presenting a product, process, or service as obsolete is the only way to cut off competitors' actions. Innovative companies do not waste time and resources protecting yesterday's solutions. By abandoning what has become outdated, they free up resources—especially the most valuable one: capable people—to work on future prospects. Deliberately presenting your product, process, or service as obsolete is the only way to hinder competitors' actions. A prime example is the major American company DuPont, which adheres to this principle. When nylon went out of fashion in 1938, DuPont immediately had chemists develop new synthetic fibers capable of competing with nylon. Additionally, the company began to lower prices on nylon, making it less tempting for competitors to infringe on DuPont's patent rights. This is why the company remains a leading synthetic fiber manufacturer in the world, and its nylon is still in demand and profitable today. TIP OF THE DAY: Intentionally position your products as obsolete – that’s your ace in competitive battles.
Intentional Obsolescence
Collect this post to permanently own it.
Subscribe to october91 and never miss a post.
#social