The dustbin of business failures is full of once sharply focused companies that lost their way because they diversified across too many markets. Market focus wasnÃ¢â‚¬â„¢t all that was lost. So were positive cash flow and a customer who, instead of seeing clear choices and remaining loyal, became confused and bought a competitorÃ¢â‚¬â„¢s product. This Ivey professor describes why market focus is imperative today and how managers can create and sustain it.
Source: Ivey Business Journal
Date: March/April 2009
Keys: Marketing, strategies, technology
Questions for discussion:
- Do you agree with the arguments presented by this author? Why or why not?
- What other explanation might help explain the loss of business by these firms?