Augusta
VIP Contributor
Market Shift. arises from major changes in a market. These market shift changes can take place over a long period of time . it is always good for a business owner to acknowledged the fact that market shifts are bound to happened nit eith the evolution and changes that occurs on a daily in the world.
So what are the different market shifts that can affect a business
Consumer preferences
This is one market shift that happens frequently. Consumer taste is never static, it can jump around for a number of reasons and even for no reason at all. Consumers can just dump a product for another without looking back.
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A new competitor
A new competition can come in to cause a huge market shift for an industry so this will leave other businesses at its mercy. As it's innovative ideas would have been everyone tilted to that result or outcome
You’ll feel significant pressure if a new competitor enters the field. So a new company can bring a huge market shift
A dying fad.
The fact is some businesses sre buildt on fads.When there's a market shift then the business tend to die by those fads unless there's a way to change. The thing is that . Fads always die out and it affects negatively the business that depended on it.
So what are the different market shifts that can affect a business
Consumer preferences
This is one market shift that happens frequently. Consumer taste is never static, it can jump around for a number of reasons and even for no reason at all. Consumers can just dump a product for another without looking back.
.
A new competitor
A new competition can come in to cause a huge market shift for an industry so this will leave other businesses at its mercy. As it's innovative ideas would have been everyone tilted to that result or outcome
You’ll feel significant pressure if a new competitor enters the field. So a new company can bring a huge market shift
A dying fad.
The fact is some businesses sre buildt on fads.When there's a market shift then the business tend to die by those fads unless there's a way to change. The thing is that . Fads always die out and it affects negatively the business that depended on it.
