As sales of smartphones have exploded, the price for the apps that run on these phones is quickly trending toward zero, thanks to low barriers to entry and intense competition. Nonetheless, savvy developers are driving revenue by rethinking the user experience and carefully designing the payment moment. This subtle movement is up-ending the mobile app market and providing inspiration for how we might rethink the very concept of point of purchase.
Indeed, mobile phone applications are an excellent example of an “extreme market,” where fast-paced change makes emerging business trends particularly noticeable. Extreme markets can show us how business will evolve. These spaces move fast, making change more noticeable. Or they’re constrained in ways that allow hidden trends to become obvious.
Read the full piece at Harvard Business Review
