ADMS 1000 Lecture Notes - Lecture 7: Technology Life Cycle, Dominant Design, Virtual Reality

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Indira Somwaru

Document Summary

Depending on industry, the cycle will be different, same stages-different times(smartphone- short industry) High fragmentation (many players, new people on the scene) High degree of innovation (people innovate and make different combinations till that thing work) Uncertainty about the market lack of legitimacy (no dominant model or technology, to say we are the leader of the marketplace) Industries in introduction phase would be virtual reality (high prices, as average people start to get a hold of it, it goes into the growth phase) Products appeal to wider market- appeal to everyone not just a specific group or geeks. New entrants (some companies who didn"t want to come in and see the scope and jump in to the business and effect the business market greatly, they see profit potential: de jure. Common usage (windows used to be, apple, linkeden) Price-conscious consumers (opposite of the introduction phase, customers will shop around instead of just paying that high price)