Mass production is almost a dirty phrase, yet we must remember mass production opened up the consumer market. The reduced cost led to reduced price...and mass marketing.
Another key factor of mass production is the change in society. When people could start affording cars for instance, it made society more mobile....the radio was a catalyst for the information age and helped create more informed society.
Mass production helped to change society.
The experience economy, the connected economy is turning that sentence around.
It now should be said that
Society is now changing business
Why is that important for business?
Because if you don't open up to society, if you don't connect with consumers, if you don't listen to social media...then you ignoring progress. Just think about
- People want to know more...and not be tethered by location...mobility of access.
- People are not passive consumers of information..they want to interact...think about reality shows.
- People trust friends more than they trust your marketing messages.
- People are feeling more empowered....just look at the growth of the Maker movement.
- People have moved from mass (price is a given) to personal.
Society is no longer waiting for you to stimulate innovation....society is evolving and it is up to you to connect to that social wave and use it to power your profit growth.