Well, we have answered the first question about market growth, now how about market maturation?
Market maturation can be viewed in two ways:
- The dynamism of the market slows and becomes moribund, something like you would see in the steel industry. Innovation slows to a crawl or is even nonexistent and companies are only treading water from one financial period to another.
- The range of business models starts to coalesce around fewer and fewer types as companies figure out what types of models are acceptable to customers. Sometimes this is driven in part by legal actions of one type or another. Sometimes one or more market leaders emerge that have good business practices, show sustained profitability and whose management practices are copied by others as being examples of how to service and thrive in changing market conditions.
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