Final answer:
Instacart found success through an efficient production model and cost structure, competitive pricing, and by prioritizing consumer demands for speed and convenience, unlike Netflix, which misjudged customer preferences and demand elasticity.
Step-by-step explanation:
Instacart's success can be attributed to its adaptive business strategy and keen understanding of consumer behavior. Instacart, much like Amazon, has excelled because of its efficient production model and cost structure, which allowed it to offer competitive pricing and convenience. Unlike Netflix, which failed to predict customer preferences and the impact of substitutes on demand elasticity, Instacart honed in on the needs of a fast-paced society, prioritizing speed, variety, and user experience. This foresight and agility in meeting consumer demands have been central to its success, enabling it to thrive where others like Mehta have seen failures on the road to success.