What if a new disruptive player introduced unbundling as a business model?
I had a very interesting conversation with an Optician recently. His wife, a qualified Optician is entering her second year in the Audiology F.D.S.C. He is now considering adding the service to his Optical Practice and had asked me to call to discuss set up costs, business model etc.
When we discussed the accepted business model he stated that he would probably use a different one. In essence he was talking about unbundling for his business. We discussed his pricing both for product and services and it became clear that he had put some thought into it.
I couldn’t stop thinking about the conversation during the following hours. Contrary to rumours, started by who knows, I can entertain thought. Miller, it has been noted! It occurred to me that there were several Opticians acquiring their qualification at this time. What if they all decided on the business model that was more familiar to them? What if they all suddenly entered the market with an unbundling strategy next year?
How would the market react, would Patients find it attractive? How would the profession react, would they adapt or ignore it? I talked to one or two people in relation to my ruminations, frightened the tar out of one of them. The other dismissed it as problematic and bound to fail. I am not so sure, Independent Opticians that survive in modern Ireland are definitely the smarter ones.
They have been through an un-relentless attack by national chains for the last few years. They have in essence survived the market change that we are seeing now. So if they are still standing it is because they are the top of their game. So how would we react, are we adaptable enough, are some of the bigger companies adaptable enough or capable of managing such a business model change?
What about you reader, how would you react if unbundling was forced upon your market by a disruptive newcomer?
Regards
Geoff
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