1. There has been a shift in the marketplace from a demand-rich to a demand-poor environment.
For most industries, companies could often sell as much of their products and services as they could produce prior to the year 2000. By contrast, the post-2000 economic environment is much weakerand there is increasing levels of competition
right across the board. The level of buyer literacy has increased dramatically with the arrival of the Internet. Purchasing decisions are now being scrutinized more than ever before, meaning customers need to be able to justify their decisions in much more detail. In parallel with these developments, it has now become harder for companies to rise above the background noise generated by the marketplace. All of this means
companies have to earn the right to engage with customers rather than assuming if
something is made, a customer pool will materialize.