We are in the midst of an economic earthquake. The seismic plates within nearly every industry are shifting.
Netflix. Uber. Spotify. Google.
These are four of the companies rapidly becoming a modern disruptive canon of business school case studies. They signify a decisive shift away from an economy built on traditional ownership to one centered in access and experience.
On-demand economy. Sharing economy. Service economy. While there are many names for the new economic model, the core essence is consistent: an empowered consumer prioritizes spending with brands that consistently provide individualized, unobtrusive, and highly contextual interactions.
Although the fundamental four P’s—product, price, promotion, and placement—were sound in a transactional consumer model, they are rapidly decreasing in relevance as the typical consumer journey is broken up into hundreds of micro-moments across multiple devices and mediums.
Check out the full article in Website Magazine.