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The Second (Invisible) Market

Posted on: Tuesday 10th of November 2009

An industrial age view of value focuses all attention on products and services: how to make them, how to distribute them, how to sell them. There’s nothing wrong with that. It’s just not the full picture.

Now a second market is emerging over and above and alongside this industrial age market. It is the market for ‘better decisions’ – for information and services that ‘help me make, and implement, better decisions’. This market works according to its own logic, delivering its own value. How it works has a huge bearing on how the first market works.

Right now, for example, consumers are migrating attention, trust, available information and increasingly cash, towards ‘decision-support’ services that help them make better decisions. As a result, the role of traditional product and service go-to-market channels and touchpoints (such as retailing and media advertising) is being transformed. Companies seeing these channels and touchpoints as vehicles for changing consumer attitudes and behaviours risk not even seeing a seismic shift in their environment.

I have written more about this for Marketing magazine.

Alan Mitchell