CANNIBALISATION Meaning and
Definition
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Cannibalisation refers to the process or act of a product, service, or entity negatively affecting the sales, market share, or demand of another similar product, service, or entity offered by the same company or in the same market. This phenomenon occurs when a new or existing product or service within a company's lineup competes with or replaces the demand for another product or service the company offers.
In simpler terms, cannibalisation describes a situation in which the success or popularity of one product ends up taking away sales or customers from another product within the same company. This occurs when the introduction or upgrade of a new product becomes a more attractive option to consumers, causing them to opt for that instead of the company's existing offering.
Cannibalisation can often occur due to the desire to innovate or stay competitive in the market. However, if not well managed, it can lead to decreased sales, revenue, and market share for the company. It is particularly relevant in highly competitive industries where companies are continuously launching new products and services to capture consumer attention and loyalty.
Effective strategies to mitigate cannibalisation include careful product positioning, clear differentiation between offerings, targeted marketing campaigns, and offering products or services at different price points or with unique features to cater to various consumer segments.
Common Misspellings for CANNIBALISATION
- xannibalisation
- vannibalisation
- fannibalisation
- dannibalisation
- cznnibalisation
- csnnibalisation
- cwnnibalisation
- cqnnibalisation
- cabnibalisation
- camnibalisation
- cajnibalisation
- cahnibalisation
- canbibalisation
- canmibalisation
- canjibalisation
- canhibalisation
- cannubalisation
- cannjbalisation
- cannkbalisation
- cannobalisation
Etymology of CANNIBALISATION
The word "cannibalization" traces its origins to the word "cannibal", which entered the English language in the late 16th century from the Spanish word "caníbal" or "caríbal". However, the term "cannibal" itself has a fascinating etymology.
The Spanish word "caníbal" came from the word "Caribal", a name used by Christopher Columbus and his contemporaries to refer to the indigenous people they encountered in the Caribbean islands. The origin of the term "Caribal" is unclear, but it is believed to have its roots in the native language of the islanders.
It is suggested that "Caribal" could have originated from the word "karipona" in the Taíno language, which refers to a ritualized form of cannibalism practiced by some indigenous tribes in the Caribbean region.
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