Whenever there is a significant change in the marketplace that affects How, When, What or Where consumers spend their hard earned money its called a “Market Shift”. There are also two significant things that actually happens in the marketplace whenever there is a market shift.
(1)Depending on their positioning in the marketplace, some people are able to tap into a newfound market of wealth as a result.
(2)On the contrary, some people actually lose lots of money or may even become obsolete after being replaced with new technology or innovations etc. and consequently go out of business.
In retrospect, one of the first major market shifts took place over 100 years ago during the early 20th century. When America became a more industrialized nation, hence came the invention and the need for the automobile. The automobile gradually became the common mode of transportation for most people instead of the traditional horses and wagons.
This market shift also created the need to build more roads and highways as well as the demand for gasoline. This increasing trend of more people driving cars everyday also created enormous wealth for the major car manufacturers. The first pioneer who was one of the wealthiest men in the world at the time and who was also well positioned for this market shift was Henry Ford founder of the Ford Motor Company.
We experienced a similar market shift with the invention of the telephone which later became the regular mode of daily communication for most people instead of the telegraph and writing letters. This market shift later created the demand for long distance phone services. There have been numerous long distance phone companies that were positioned to gain wealth from this market shift such as AT