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Bringing product and consumer ecosystems to the strategic forefront

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  • Dass, Mayukh
  • Kumar, Shivina

Abstract

The widespread adoption of technology and electronic media has dramatically altered the set of products consumers compare before making a purchase decision. Online platforms have succeeded at drawing linkages among products by highlighting those that are preferred, evaluated, or purchased together. However, despite the increase in both product and customer inter-connectedness across markets, managers continue to make decisions based largely on the dynamics of competition within narrow product categories. In this article, we raise the call for a migration from a category-focused mindset to an ecosystem-focused strategic mindset that acknowledges and accounts for the network of related or unrelated entities that a specific product resides within. We illustrate the importance of this shift using examples of preference, choice, and customer networks from popular online platforms. We then discuss the impact of the shift in strategic mindset toward ecosystems on competitive structure analysis, market research, brand footprint analysis, intra-band ecosystems, promotion planning, new product development, customer valuation, strategic alliances, and market segmentation.

Suggested Citation

  • Dass, Mayukh & Kumar, Shivina, 2014. "Bringing product and consumer ecosystems to the strategic forefront," Business Horizons, Elsevier, vol. 57(2), pages 225-234.
    • Handle: RePEc:eee:bushor:v:57:y:2014:i:2:p:225-234
    DOI: 10.1016/j.bushor.2013.11.006
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    References listed on IDEAS

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    1. Mangold, W. Glynn & Faulds, David J., 2009. "Social media: The new hybrid element of the promotion mix," Business Horizons, Elsevier, vol. 52(4), pages 357-365, July.
    2. Kaplan, Andreas M. & Haenlein, Michael, 2010. "Users of the world, unite! The challenges and opportunities of Social Media," Business Horizons, Elsevier, vol. 53(1), pages 59-68, January.
    3. Marmorstein, Howard & Grewal, Dhruv & Fishe, Raymond P H, 1992. "The Value of Time Spent in Price-Comparison Shopping: Survey and Experimental Evidence," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 19(1), pages 52-61, June.
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    Cited by:

    1. Sánchez Torres, Javier A. & Varón Sandoval, Alexander & Arroyo Cañada, Francisco Javier & Rojas Berrio, Sandra, 2021. "Exploring the factors affecting the use of C2C in Colombia," Cuadernos de Gestión, Universidad del País Vasco - Instituto de Economía Aplicada a la Empresa (IEAE).
    2. Heinonen, Kristina & Strandvik, Tore, 2018. "Reflections on customers’ primary role in markets," European Management Journal, Elsevier, vol. 36(1), pages 1-11.
    3. Tuomas Lappi & Harri Haapasalo & Kirsi Aaltonen, 2015. "Business Ecosystem Definition in Built Environment Using a Stakeholder Assessment Process," Management, University of Primorska, Faculty of Management Koper, vol. 10(2), pages 111-129.
    4. Sun, Jiazhe & Wu, Shunan & Yang, Kaizhong, 2018. "An ecosystemic framework for business sustainability," Business Horizons, Elsevier, vol. 61(1), pages 59-72.
    5. Kumar, Piyush & Dass, Mayukh & Kumar, Shivina, 2015. "From competitive advantage to nodal advantage: Ecosystem structure and the new five forces that affect prosperity," Business Horizons, Elsevier, vol. 58(4), pages 469-481.

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