Digital Markets - the Road Ahead
In the New digital world , online markets will display the following characteristics ,
— the whole world is your market , of course ,the unit economics has to work for u
— there is nothing like core competency in this world , if u have built a strong platform then u can use the same to get into multiple categories , so disruption is a little easier across categories .
—come what may , offline channels will never get fully wiped out
— like the off line world , making money is finally important in business , online world cant be just burning money :)
— brand launches needn’t have huge marketing budgets always —, influencers , social media , and world of mouth can make or break brands , if you r slightly lucky that is .
—every serious business professional needs to understand the digital worlds and its jargons /kpi’s , the way offline ways of business are understood
— Many brands will attempt to break /disrupt categories , however a few will succeed
— expecting current big brands in offline space to remain silent and cede space to new digital brands will be foolish ! They will react
— the digital markets will try to clone offline world using technology , as far as possible .
— there is nothing only online and nothing only offline model , it will be hybrid model mostly
Your thoughts are welcome !
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