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Incumbents underestimate the potential of disruptors from "summary" of The Innovator's Dilemma by Clayton M. Christensen
In numerous industries, incumbents have consistently found themselves blindsided by upstart competitors that seem to come out of nowhere. These disruptors enter the market with innovations that initially appeal to only a small segment of customers. Incumbents, who have long been focused on serving their existing customers and improving their products, often dismiss these disruptors as insignificant players, not worth their attention. They fail to recognize the disruptive potential that these newcomers possess. Disruptors typically introduce products or services that are simpler, more convenient, and more affordable than what the incumbents offer. While these offerings may not initially meet the needs of the incumbents' mainstream customers, they are attractive to a different set of customers, often those who are underserved or nonconsumers. Over time, disruptors improve their products and expand their market reach, gradually moving upmarket and encroaching on the incumbents' territory. Incumbents, entrenched in their existing business models and focused on sustaining their current success, struggle to respond effectively to these disruptors. They are often hindered by their own success, as their...
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