A Quote by Clayton M. Christensen
Most marketers think there's a concept called a product life cycle. Once you realize that the world is organized by jobs that need to be done, you understand that product life cycles don't exist.
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If a product's future is unlikely to be remarkable - if you can't imagine a future in which people are once again fascinated by your product - it's time to realize that the game has changed. Instead of investing in a dying product, take profits and reinvest them in building something new.
You're nothing but a product. And what's this product called? Emptiness, dude, that's what it's called. And for the rest of your life, they sell you over and over, right to the end when they package you one last time and plant you in the ground.
Most entrepreneurs come up with a product, or they come up with an idea and they think they can be successful with it. But if they don't know the financial side of their business and understand credit and working capital and what it takes money-wise, you can't be successful. The product is just a product.
The very concept of universal formal education is a product (and a relatively late product) of the capitalist world-economy.
The most common way customer financing is done is you sell the customer on the product before you've built it or before you've finished it. The customer puts up the money to build the product or finish the product and becomes your first customer. Usually the customer simply wants the product and nothing more.
Watch the product life cycle; but more important, watch the market life cycle.
Once a teen has been identified as part of the 'target market,' he knows he's done for. The object of the game is to confound the marketers, and keep one's own, authentic culture from showing up at the shopping mall as a prepackaged corporate product.
When you set out to create a new product, you usually do not start by trying to think of something completely new. You think of a product or concept that is already 'normal' to the world and then try to make it better. You make it Super Normal.
When you're thinking about your next product or current product and wondering how to make it different so you don't have competition, understand the job the customer needs to get done.
'Product life' is measured in months, not years, and as soon as you introduce a 'product,' understand that others in your business are going to reverse engineer it to duplicate the results after they circumnavigate the patents, the trademarks, and the intellectual property.
Happiness is a by-product. It is not a primary product of life. It is a thing which you suddenly realize you have because you're so delighted to be doing something which perhaps has nothing whatever to do with happiness.
What we did ten years ago with the Playstation was a phenomenal success story for the company. That product had a ten year life cycle, which has never been done in this industry.
I've always believed that the best way you combat intellectual property theft is making a product available that is well priced, well timed to market, whether it's a movie product, TV product, music product, even theme-park product.
Social enables word of mouth at an unprecedented scale. Its most powerful effect, through reviews and recommendations, is to put product quality and value for money as the key to success in commerce. Social brings a level of transparency that prevents marketers from advertising their way to success without underlying product quality.
When a company is charging money for a product - as Evernote does for all above its most basic service, and same for Dropbox and SugarSync - you understand its incentive for sticking with that product.
One of the things I've probably absorbed when I was in business school - and didn't know I was learning it - was about life cycles, that things begin, and they peak, and then they decline. So whether you look at life cycles of fashion, or you look at life cycles of things that people buy, designs, everything is in a life cycle. Getting out of the apparel businesses and into beauty and lingerie, those were very big bets, but they were very deliberately thought about and tested over time.
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