Call it the copycat syndrome or marketing burnout wherein a company has a success with one product at which point every company in the space copies the effort leaving a market dotted with me-too products with little differentiation other than price. Eventually through this process value is suctioned out of the product or service, demand wanes, and consumers move on. It is almost impossible to satisfy consumer desire for the cheapest or most innovative product/technology/service/oh-heck-anything, particularly because in the end the equilibrium price may well be zero and innovation may be defined as simply announcing that something is innovative.
The issue of energy may have been overshadowed by that of tax at yesterday’s EU summit of Heads of State in Brussels, but its growing importance and impact on Europe’s economy is one that cannot be ignored. As the Financial Times reported on Tuesday, Europeans are paying a lot for their energy – prices are 37% higher than those in the US and 20% hi
Call it the copycat syndrome or marketing burnout wherein a company has a success with one product at which point every company in the space copies the effort leaving a market dotted with me-too products with little differentiation other than price. Eventually through this process value is suctioned out of the product or service, demand wanes, and consumers move on. It is almost impossible to satisfy consumer desire for the cheapest or most innovative product/technology/service/oh-heck-anything, particularly because in the end the equilibrium price may well be zero and innovation may be defined as simply announcing that something is innovative.
The issue of energy may have been overshadowed by that of tax at yesterday’s EU summit of Heads of State in Brussels, but its growing importance and impact on Europe’s economy is one that cannot be ignored. As the Financial Times reported on Tuesday, Europeans are paying a lot for their energy – prices are 37% higher than those in the US and 20% hi
