Our Internet / Technology Practice

What it Takes for a Technology Company to Win

With the proliferation of cheaper hardware, free software, and increased access to broadband, we are in the early stages of a new technology boom where competition is intensifying.

As an established player, how can you fend off upstarts vying to compete in your market?

As a relative upstart, how can you topple the industry giants?

The answer in both cases is rapidly changing your product offering to meet shifting customer needs.

If you don’t, you may find yourself obsolete. You need to look no further than the Yellow Pages and its struggle to compete with Internet search giants such as Google who are rapidly innovating in the local and mobile search space.

And the need to adapt quickly is not limited to just “old” (bricks-and-mortar) companies versus “new” (Internet-based) ones.

In battles among Internet-only companies, Friendster, once an innovator and the clear leader in social networking, is struggling to stay afloat as its largest competitor MySpace has grown to the point where it now receives the most page hits of any domain name in the world. Friendster was slow to understand customer needs, allowing MySpace, and others, to capitalize by providing users more flexibility in creating their own sites with features such as blogs and music uploading.

Markitecture believes that success in the technology industry comes only from a) dedicating the time and effort to developing a sophisticated process for understanding your most profitable customers and having done that, b) targeting those customers precisely with new and/or repositioned offerings.