In present day market, where customers have far more choices to choose from due to extreme homogeneity, consider the facts that over one million businesses starts in the united states alone each year (114 each hour) that excludes online start-ups (1)(2).
And out of those one million around 134,139 patents are issued roughly to the same number of businesses while the rest of the businesses are essentially “Me-Too’s (product/service)” numbering around 866,000 businesses (3).
Similarly there were around 125 million SME's world wide in 132 economies back in 2010 (4). And in my opinion majority of these businesses are “Me-Too’s (product/service)” too, considering the fact that nearly 50 percent of new products introduced in the market are complete failures and more than 70 percent do not reach their sales goals (5).
This has resulted in extreme homogeneity in products/services, extreme competition in the present day market and excessive number of options to choose from (for customers).