Reference no: EM1379828

Q. When videocassette recorders first became popular in mid-1980s; a new form of mom also pop small business sprang up across country: video rental store. At time, new videotapes of popular movies cost anywhere from $80 to $200. As popularity of videocassette recorders grew, these small, independent video rental stores grew rapidly to meet demand of consumers for inexpensive rentals of movies. there was considerable competition between m to be first to have expensive, new movies available for rental. However, some stores disappointed customers by not having enough copies of new films when y were most in demand, upon ir initial release on video. Within about 5 to 8 years of competition, most of se moms also pop video rental stores were ultimately put out of business by large regional also n national chains, such as Blockbuster. Using concept of sustainable competitive advantage along with four conditions required producing it, explaining how such a transition from hundreds of independent mom also pop video stores to a few national chains could have taken place so quickly. Additionally, describe current trend away from national video rental outlets as you study evolution of this phenomenon.