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in open discussion with them, explaining why the new business idea is needed, and how it will be
implemented. See Tipping Point Leadership. Alternative Industries reflect the different choices buyers make across the market universe. Alternative
industries embrace substitutes, that is, products and services that have different forms but the same
functionality or core utility. Cars and buses, for example, are substitutes because they have the same function:
going from one place to another quickly. Alternatives also embrace products and services that have different
functions and forms but the same objective. For example, cinemas and restaurants are alternatives because
they have neither the same form nor the same function: cinemas provide visual entertainment, while
restaurants provide conversational and gastronomical pleasure. However, cinemas and restaurants have the
same objective: enjoying a night out.
When trying to reconstruct market boundaries, companies should look across alternative industries. This
is because they ar...
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This note was uploaded on 10/21/2012 for the course ECON 45 taught by Professor Mikel during the Spring '12 term at Art Institute of Atlanta.
- Spring '12