DEMAND DESTRUCTION
Everyone is familiar with the basic economic concepts of supply and demand. When demand rises, prices go up. But the concept of "demand destruction" is different: it used to be quite rare, until the widespread adoption of the smartphone. Demand destruction means that your desire or need for a particular product category has been completely eliminated. The smartphone has caused a wave of demand destruction. We no longer have any need for entire categories of products, such as portable entertainment gizmos, shrinkwrapped software on disks, DVDs, physical maps and books. During the past decade we've lived through an unprecedented wave of demand destruction and it is not finished. Are your company's products on the right side of the future?
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