In baseball we often see a batter “take a pitch.” In other words, before the ball is thrown the batter decides he’s not going to swing regardless of how good the pitch is. Sometimes this is a tactic to tire his competition–the pitcher–out. Sometimes it’s an attempt to draw a walk because that’s the best the batter can hope for under the circumstances. Sometimes it’s a strategy to wait things out, figuring a better opportunity will present itself later.
Lots of businesses take pitches.
When Sears allows discounters and category killers to erode their core customer base and chip away at their dominant market share, they are taking pitches.
When Blockbuster fails to mount a compelling response to NetFlix and Redbox, they are taking pitches.
When Neiman Marcus, Saks and Nordstrom allow flash-sales sites like Gilt and RueLaLa to build brands with significant market value, they are taking pitches.
When dozens of companies deny the future of social networking and location-based marketing, they are taking pitches.
Of course there are times when it makes sense to wait things out–to study and analyze before placing a big bet. Customer-centric companies know who their most important customers and prospects are, and when the metrics on those customers deteriorate, they dig in to understand the drivers and take action.
You don’t always need to swing for the fences, but it’s hard to win without a few hits.