Ari Meisel and Gregg Schoenberg invite you to take a nostalgic trip back in time to explore the rise and fall of the buggy whip industry. Our hosts use this industry as a metaphor for industries and companies that fail to evolve with changing times and technologies. Drawing parallels with the whale blubber industry, they discuss how accessory manufacturers, like those producing buggy whips, can be blindsided by industry shifts. Reflecting on the tale of Westfield, Massachusetts, a town that once thrived on whip production, they unpack the factors that led to its downfall, pointing to complacency and the lack of adaptability.
Switching gears, Ari and Gregg examine the story of Nokia, a Finnish pulp mill company that transformed into a global leader in cell phone technology. Alongside, they explore how brands like Patagonia and Trader Joe's have built robust customer loyalty, emphasizing the significance of adaptability in maintaining brand relevance. Finally, they highlight examples of successful transitions between industries and the importance of strategic planning in facilitating such pivots.
You can expect all this and more as Ari and Gregg conclude their first season by nodding towards an antiquated industry and a famous song by the American rock band, Devo.
Listen, learn, and get a fresh perspective on the dynamics of industry evolution.
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