Every market for a product or service goes through a sequence of stages as it emerges, grows, matures and then dies. It doesn’t matter how attached you are to your old vinyl LPs, or your VHS video tapes, or your NLP techniques, their life must come to an end.
First of all, we see the ‘early adopter’ stage. People will buy it because it’s new and different, and they’ll buy it at a premium. DVD players cost over £1,000 when they first came onto the market.
Next, the market matures and we see the ‘mass market’ stage. DVD players fell to around £250 for a good machine, and the market fragmented into ‘budget’, ‘mid-market’ and ‘high end players’, targeting buyers who just wanted a cheap DVD player, or a good brand that they trusted, or a niche, high end player to fit in with their expensive home cinema system. In a mature market, people buy a DVD player because it’s what other people buy. It’s what the shops sell. It’s what the TV tells them to buy.
Next, the market declines as sales reach saturation point. The manufacturers are no longer selling to people who