Ben Gilbert: evaluation

Transcript context

…So there’s a lesson here. In part, the lesson is it is incorrect to describe markets by the products in them. You should describe markets by the job to be done. The market of risk-based time telling was no longer available to the Swiss. It entirely went quartz. But there was a market for something different that the Swiss were great at if they were set up and positioned correctly, and managed correctly. I think that’s the lesson here. This isn’t the high-end of the watch industry and the low-end of the watch industry. These are two completely different customer needs. Totally different things. There’s an arc to this story. Rolex sits back, they see what not to do, they see what to do, and then they do it.…

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