Consumer decides
It is the age of the nimble business who can engage with consumers. Michael Porter’s classical 5 forces are becoming less relevant. In a digital world the barriers to new entrants and substitute products is being lowered. The competition can come from anywhere. The key source of supply is talent, and talent can easily leave. Consumers hold the information on pricing, products, features and competitors, they now hold the advantage. In this age the sustainable source of competitive advantage is deep knowledge of your consumers and constant engagement with them.
