This can be done by engaging in open discussion with

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: gaging 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...
View Full Document

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.

Ask a homework question - tutors are online