Importance of the ecosystem in marketing

Marketing, Marketing Ecosystem, Product Management, Technology

I have been harping for a long time, in case you are coming out with a new product/service in the market, you need to check for the availability of the ecosystem in the technology market space. So if you are Google or Facebook, you cannot expect to enter or dominate the market if there is no internet connectivity.

I have also written earlier about how Thomas Edison was among the few people who had systematised the concept of testing in his New Jersey Labs . There were hundreds of people testing various aspects of his inventions in parallel. He was not testing things serially which is more time consuming.

Incidentally while the light bulb is attributed to Edison, there were at least another 20 odd people who were building the light bulb at the same time.

What is important to remember is that Edison understood the concept of the ecosystem for the success of the light bulb. If there was no electricity, the adoption of the light bulb would not happen. I guess his experience of working with the telegraph company, had given him this background.

For those of you who don’t know Edison was also among the original promoters of what we know today, as the General Electric company and it was called the Edison General Electric. So while the light bulb was being designed, they were also designing the electric network that would get the electricity to the homes of the people so that there would be an immediate market for his invention.

Edison was the perfect marketing / business person who understood that the ecosystem is most critical when getting a new concept into the market.

Even today, there’s so much noise about different technologies that are hitting the market. What is important for the technologies to succeed is the infrastructure or ecosystem to be present in a very stable condition. If the ecosystem itself is shaky then you won’t be able to get the new technology launched successfully. This is one of the most critical lessons in product management which people miss.

Till next time then.

Carpe Diem!!!

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