BU111 Lecture 4: ALL chapter 4 notes - Tech Factors
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BU111 Full Course Notes
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Equipment and material advancements: substitutes for human effort (machines are able to do human activities now, reduce costs, improve performance, increase flexibility. People don"t see value in creating apps compatible with blackberry technology. Therefore, customers don"t see the value either because there aren"t many features and complementary goods. Therefore, customers are less likely to buy blackberry"s tablet. When first joining instagram, you add everyone you know to: network effect (when value is dependent on the amount of installed base) applies to parties. (who else is going?) Because if no one is going, it"s going to be really lame and boring. Companies can use this data to predict how customers maneuver through stores and change their layout accordingly: companies can collect data of peoples" search history as well as the other ways their customers spend money. Ecommerce and omnichannel: bad websites give bad impressions on companies because customers assume companies have good digital presence.
