Market Share is there to be taken not given!
It’s a fact that last year Nokia’s global share of phone sales sank below 30 per cent for the first time since 1999.
How can a company with the largest mobile phone market share be challenged by a company like Apple (which had no market share in1999 and only released their first Iphone on the 29th June 2007) in such relatively a short time? You can bet this will be studied for years to come.
The fact is once a company become a market leader, innovative people, responsible for early successes quickly get sidelined or replaced by the perceived “cautious” protectors thinking of lots of highly intellectual reasons not to keep on innovating.
As demonstrated by Apple in recent times, it is the attitude that drives the Innovation and Marketing which are the key drivers in first capturing market share and then keeping it.
Personally, my first Apple experience began with an IPod and over years followed by IPhone, Mac-Pro, IPAD, and now I-Cloud. This means while I used once a Nokia, a Blackberry and a PC, now I no longer need any of these.
If you are a CEO of a company that is enjoying significant market share today, keep on asking yourself “How can I replace my best selling product with one that is needed more and is significantly far more useful and appealing”