How do single product companies grow into these mega businesses ?
2 examples I can think of off the top of my head would be Gopro and Beats.
Gopro is just a outdoor camera and there are tons of generics on the market that are 90% as good as gopros and cost less, yet Gopro is a billion dollar public company.
Beats is just above average music equipment marketed very well.
How do these companies sustain business as opposed to the fads that just die out such as the snuggie and pet rock ?
Is it just better marketing/brand image ?
Certain products such as a apple iPhone can't be made into generics and sold but a headphones, gopro, snuggle, & companies that sell other generic goods such as furniture, household appliances etc
What is stopping everyone from taking X product and branding and marketing it themselves. Is it just a best marketing strategy wins situation ?
Barrier to entry is the main thing in question, unless you are the first one in any industry which is highly unlikely there are going to be many competitors and new copycats emerging. How does one combat this ? Is it just by having a better product/service ?
2 examples I can think of off the top of my head would be Gopro and Beats.
Gopro is just a outdoor camera and there are tons of generics on the market that are 90% as good as gopros and cost less, yet Gopro is a billion dollar public company.
Beats is just above average music equipment marketed very well.
How do these companies sustain business as opposed to the fads that just die out such as the snuggie and pet rock ?
Is it just better marketing/brand image ?
Certain products such as a apple iPhone can't be made into generics and sold but a headphones, gopro, snuggle, & companies that sell other generic goods such as furniture, household appliances etc
What is stopping everyone from taking X product and branding and marketing it themselves. Is it just a best marketing strategy wins situation ?
Barrier to entry is the main thing in question, unless you are the first one in any industry which is highly unlikely there are going to be many competitors and new copycats emerging. How does one combat this ? Is it just by having a better product/service ?
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