Disruptive technology is a term that’s frequently used in the same sentence with the green energy industry. But it can be applied in any industry where technology is changing rapidly. A similar term has evolved to acknowledge gaps between existing products and services and what is ultimately envisioned. Farhad Manjoo, in an article for Fast Company, used the term – transitional technology.
Manjoo covers what most long term observers of the video rental industry know. The business model exploited by Blockbuster is about to be usurped by digital streaming. Much has been written about how Netflix and Blockbuster are racing to fill the niche where consumers will quickly and easily view movies of their choice without a trip to the video store. While the technology providers catch up to the promised business model, i.e. while the industry is in transition, a new player has popped up with a solution that Manjoo calls transitional technology. Redbox places DVD rental kiosks in supermarkets and captures market share by capitalizing on consumer traffic.
Manjoo’s discussion of transitional technology is an important reminder that businesses can exploit market opportunities for the short term. In doing so, marketing may be extremely important to reach the target audience in a shortened time-frame.[Source: Manjoo, Farhad. “Little-Known Redbox,” Fast Company, 7.1.09]