With the passing of the first round decisions for the simulation a wealth of information has been imparted upon Team 12's results in the form of Market Research. In the real world companies also attempt to leverage the information provided by their market research teams into new product innovations or in some cases attractive markets to enter. Upon reading up on some current events in the business world I found one such company, Comcast, was leveraging market research about consumer preferences to enter a new market.
Recently Comcast announced that it would provide a streaming media service similar to that of NetFlix called Streampix. Comcast used market research to reveal that there was significant demand for portable streaming media by consumers. To address this demand Comcast will use it's vast existing media library and newly negotiated contracts to enter the streaming media market and directly compete with the likes of NetFlix, Hulu, and other such services. Without the market research that showed consumers increasing preference to access their media libraries on the go over wireless networks Comcast would not have discovered the viability of entering such a market. By leveraging this market research Comcast is poised to nab a significant market share of the portable streaming media market in the near future.
I think this idea was genius on the part of Comcast as it utilizes it's huge library of past tv shows, movies, and other media and offers this on the go. In addition entering this market gives Comcast the ability to earn additional revenues from preexisting customers that desire such a service without cannibalizing their current sales.
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