Change can be gradual and easy to adapt to, or sudden and catastrophic. When electronic games first entered the marketplace in the late 70’s a partner at Marvin Glass proclaimed board games dead, so severely were their sales impacted by games such as Simon, Merlin, and a host of similar follow-on products.
When Cabbage Patch Kids became a runaway hit, the large feature-doll business collapsed and took years to come back, never returning to the glory days the category enjoyed beforehand. If you were a big doll company at the time, you were greatly affected.
The Great Depression, and the recent great recession were calamitous to millions as real estate values dropped by 50% or more, stock valuations were halved, and job losses swept over us. Change can be painful, but survivable.
(To be continued . . . )
Tags: change, radical, sudden, survival, business, industry, toy, toys, marvin glass, inventor, invent, invention, loss, pain, business, games, dolls, merlin, Simon, electronic, feature, cabbage patch kids