Buggy whip
A buggy whip is a whip used for driving on horses harnessed to a buggy, or small open carriage. The buggy whip industry ceased to exist with the introduction of the automobile, and is a classic example in marketing of an industry ceasing to exist because its market niche, and the need for its product, disappears.Some speculate that the record industry may suffer a similar fate, as the demand for its services of physical delivery of music disappears, eliminating its function as mediator between the music industry and consumer.
See also:
- Frederic Bastiat's satirical Candle-makers' petition against the Sun.
