Invention/Innovation -> Propagation -> Competition -> Maturity
Invention is the actual act of creation. It’s the initiation of a smart idea. Not every idea makes it out of this stage. Plenty of good ideas stop here for many different reasons.
- Bad Marketing.
- Or another innovation coming along immediately that’s better.
- Political Shifts.
Propagation is the part where an idea starts to take off. It could be a single company that grows. Or many companies making similar products or adopting the same tactics. The industry affected doesn’t yet know its bounds, the limits of money to be made and benefits to customers.
Competition is where people are seeing the opportunity pop up and trying to cash in. As the industry sees it’s walls, and more companies enter, the value of the service starts to decline.
Maturity is your when you’re competing on price with other established companies. It’s hard to differentiate from other companies, and it’s also hard for a new competitor to enter without a new innovation that starts the cycle over again.