Chapter 5
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1. There are three categories of market entrants: first movers, early followers, and late entrants. 2. First movers have advantages like brand loyalty, technological leadership, preempting scarce assets, exploiting buyer switching costs, and reaping increasing returns. However, they also bear high R&D costs, lack supply/distribution channels, and face uncertainty in customer requirements. 3. The optimal timing of entry depends on factors such as customer preferences, technology maturity, availability of complements, competitive threats, and the firm's resources and reputation. Managing entry timing is complex given the risks of early or late entry.
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Chapter 5
This document discusses the timing of entry for new products and technologies. It describes three categories of market entrants: first movers, early followers, and late entrants. First movers can gain brand loyalty, technological leadership, preemption of scarce assets, exploitation of buyer switching costs, and benefits of increasing returns. However, first movers also bear high research costs, may lack supply/distribution channels, and face uncertainty in customer requirements. The optimal timing depends on factors like customer preferences, enabling technologies, complements, competitive threats, and first-mover advantages versus costs. Managing entry timing well is complex, and strategies can improve timing options.
Chapter v SCHILLING 2017
The document discusses the timing of entry for new products and technologies. It describes three categories of market entrants: first movers, early followers, and late entrants. It outlines advantages and disadvantages of being a first mover, such as brand loyalty, preempting resources, and incurring high research costs to develop the new technology. The optimal timing depends on factors like customer preferences, availability of complementary technologies, and competitive threats. Managing entry timing well is complex, as entering too early risks a poor market reception, while later entrants can learn from pioneers' experiences.
Chapter 5
1) The document discusses the timing of entry for new products or services, categorizing entrants as first movers, early followers, or late entrants.
2) It outlines the potential advantages of being a first mover, such as brand loyalty, technological leadership, preempting scarce assets, exploiting switching costs, and benefiting from increasing returns.
3) However, it also notes the disadvantages first movers face, like significant research and development expenses, undeveloped supply chains, reliance on immature complementary technologies, and uncertainty about customer needs.
Chapter v
This document discusses the timing of entry for new products and services. It identifies three categories of market entrants: first movers, early followers, and late entrants. The advantages of being a first mover include brand loyalty, technological leadership, preempting scarce assets, exploiting buyer switching costs, and reaping increasing returns. However, first movers also face higher research and development expenses, undeveloped supply chains, immature complementary technologies, and uncertainty about customer needs. The optimal timing depends on factors like customer preferences, technological improvement, availability of enabling technologies, availability of complements, competitive threats, and first-mover resources. Firms can improve their timing options through strategies to manage these risks and opportunities.
Chapter 5
This document discusses the timing of market entry for new products and technologies. It describes three categories of market entrants: first movers, early followers, and late entrants. The advantages of being a first mover include establishing brand loyalty, technological leadership, preempting scarce resources, exploiting switching costs, and reaping increasing returns. However, first movers also face higher R&D costs, undeveloped supply chains, uncertainty over customer needs, and reliance on immature complementary technologies. The optimal timing depends on factors like customer preferences, technological improvement, availability of enabling technologies and complements, competitive threats, and first-mover resources and reputation. Managing entry timing carefully is complex given the risks of an early failure benefiting
Chapter v (tati nabila)
1. The document discusses the timing of entry for new products and divides entrants into three categories: first movers, early followers, and late entrants.
2. It outlines advantages and disadvantages of being a first mover, including potential brand loyalty but also higher research costs.
3. The optimal timing depends on factors like customer preferences, availability of complementary technologies, and competitive threats. Firms must balance the risks and rewards of early vs. late entry.
Chapter 5
This document discusses the timing of entry for new products and technologies. It describes three categories of market entrants: first movers (pioneers), early followers, and late entrants. The advantages of being a first mover include gaining brand loyalty, preempting scarce resources, exploiting switching costs for buyers, and benefiting from increasing returns. However, first movers also bear high R&D costs, may lack supply chains, and face uncertainty over customer demand. The optimal timing depends on factors like customer preferences, the innovation benefits, availability of complements, and competitive threats. Firms can improve their timing options through strategies like refining technologies based on early failures.
Chapter 5
This document discusses the timing of entry for new products and technologies. It identifies three categories of market entrants: first movers, early followers, and late entrants. The advantages of being a first mover include establishing brand loyalty, technological leadership, preempting scarce assets, exploiting switching costs, and reaping increasing returns. However, first movers also face higher R&D costs, undeveloped supply chains, immature complementary technologies, and uncertainty about customer needs. The optimal timing depends on factors like customer preferences, the innovation's benefits, availability of enabling technologies, and ability to withstand early losses. Firms can improve their timing options through strategies like refining technologies based on early failures.
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Chapter 5
This document discusses the timing of entry for new products and technologies. It describes three categories of market entrants: first movers, early followers, and late entrants. First movers can gain brand loyalty, technological leadership, preemption of scarce assets, exploitation of buyer switching costs, and benefits of increasing returns. However, first movers also bear high research costs, may lack supply/distribution channels, and face uncertainty in customer requirements. The optimal timing depends on factors like customer preferences, enabling technologies, complements, competitive threats, and first-mover advantages versus costs. Managing entry timing well is complex, and strategies can improve timing options.
Chapter v SCHILLING 2017
The document discusses the timing of entry for new products and technologies. It describes three categories of market entrants: first movers, early followers, and late entrants. It outlines advantages and disadvantages of being a first mover, such as brand loyalty, preempting resources, and incurring high research costs to develop the new technology. The optimal timing depends on factors like customer preferences, availability of complementary technologies, and competitive threats. Managing entry timing well is complex, as entering too early risks a poor market reception, while later entrants can learn from pioneers' experiences.
Chapter 5
1) The document discusses the timing of entry for new products or services, categorizing entrants as first movers, early followers, or late entrants.
2) It outlines the potential advantages of being a first mover, such as brand loyalty, technological leadership, preempting scarce assets, exploiting switching costs, and benefiting from increasing returns.
3) However, it also notes the disadvantages first movers face, like significant research and development expenses, undeveloped supply chains, reliance on immature complementary technologies, and uncertainty about customer needs.
Chapter v
This document discusses the timing of entry for new products and services. It identifies three categories of market entrants: first movers, early followers, and late entrants. The advantages of being a first mover include brand loyalty, technological leadership, preempting scarce assets, exploiting buyer switching costs, and reaping increasing returns. However, first movers also face higher research and development expenses, undeveloped supply chains, immature complementary technologies, and uncertainty about customer needs. The optimal timing depends on factors like customer preferences, technological improvement, availability of enabling technologies, availability of complements, competitive threats, and first-mover resources. Firms can improve their timing options through strategies to manage these risks and opportunities.
Chapter 5
This document discusses the timing of market entry for new products and technologies. It describes three categories of market entrants: first movers, early followers, and late entrants. The advantages of being a first mover include establishing brand loyalty, technological leadership, preempting scarce resources, exploiting switching costs, and reaping increasing returns. However, first movers also face higher R&D costs, undeveloped supply chains, uncertainty over customer needs, and reliance on immature complementary technologies. The optimal timing depends on factors like customer preferences, technological improvement, availability of enabling technologies and complements, competitive threats, and first-mover resources and reputation. Managing entry timing carefully is complex given the risks of an early failure benefiting
Chapter v (tati nabila)
1. The document discusses the timing of entry for new products and divides entrants into three categories: first movers, early followers, and late entrants.
2. It outlines advantages and disadvantages of being a first mover, including potential brand loyalty but also higher research costs.
3. The optimal timing depends on factors like customer preferences, availability of complementary technologies, and competitive threats. Firms must balance the risks and rewards of early vs. late entry.
Chapter 5
This document discusses the timing of entry for new products and technologies. It describes three categories of market entrants: first movers (pioneers), early followers, and late entrants. The advantages of being a first mover include gaining brand loyalty, preempting scarce resources, exploiting switching costs for buyers, and benefiting from increasing returns. However, first movers also bear high R&D costs, may lack supply chains, and face uncertainty over customer demand. The optimal timing depends on factors like customer preferences, the innovation benefits, availability of complements, and competitive threats. Firms can improve their timing options through strategies like refining technologies based on early failures.
Chapter 5
This document discusses the timing of entry for new products and technologies. It identifies three categories of market entrants: first movers, early followers, and late entrants. The advantages of being a first mover include establishing brand loyalty, technological leadership, preempting scarce assets, exploiting switching costs, and reaping increasing returns. However, first movers also face higher R&D costs, undeveloped supply chains, immature complementary technologies, and uncertainty about customer needs. The optimal timing depends on factors like customer preferences, the innovation's benefits, availability of enabling technologies, and ability to withstand early losses. Firms can improve their timing options through strategies like refining technologies based on early failures.
Chapter 5 Schilling 2017 Timing of Entry
The document discusses different types of market entrants: first movers, early followers, and late entrants. There are several advantages to being an early entrant, including establishing brand loyalty, preempting scarce resources, exploiting switching costs, and benefiting from increasing returns. However, early entrants also face challenges such as bearing high research and development costs, developing supply chains, and uncertain customer demand. The best timing of market entry depends on factors like technology advantages, availability of complementary goods, competitive threats, and ability to withstand short-term losses.
Chapter 5
- There are three categories of market entrants: first movers (pioneers), early followers, and late entrants.
- Companies that introduce new technologies can build brand loyalty and a reputation as a technological leader in that domain, helping them maintain market share even after competitors enter.
- Early entrants can preempt scarce resources like key locations, permits, patents, distribution channels, and supplier relationships.
- Once customers adopt a product, switching costs like initial purchase price and learning curve make them less likely to change to a competitor's product.
Chapter 5 is strategy
The document discusses the advantages and disadvantages of being a first mover when introducing a new technology to the market. Some key first mover advantages include gaining brand loyalty, preempting scarce resources, and benefiting from network effects. However, first movers also face higher R&D costs, uncertainty over customer preferences, and immature supply chains. The optimal timing of market entry depends on factors like the size of the technology's advantage, the maturity of complementary goods, and the threat of competition. Later entrants can capitalize on the efforts of first movers while avoiding some of their risks.
Timing of entry
1. The chapter discusses the advantages and disadvantages of being a first mover when introducing new technologies to the market. While first movers may build brand loyalty and capture scarce resources, they also bear high R&D costs and face uncertainty over customer needs.
2. Later entrants can benefit from the R&D and marketing of first movers. They also have the advantage of understanding customer preferences that evolved based on the first mover's experience.
3. The optimal timing of market entry depends on factors like the size of the technological advantage, availability of complementary goods, and uncertainty over customer requirements. Firms with fast development cycles have more flexibility in timing their market entry.
Chapter 5
Stanley Milgram conducted an experiment in the 1960s where he sent letters from Boston to random individuals in Nebraska with instructions to pass the letters along to the recipient through acquaintances. This experiment demonstrated the small world phenomenon where people are connected through just a few degrees of separation.
Chapter 5
1. The document discusses the advantages and disadvantages of being a first mover when introducing new technologies to the market. It notes that first movers may be able to build brand loyalty and benefit from increasing returns to adoption, but also face higher R&D costs and uncertainty over customer needs.
2. Later entrants can learn from the mistakes of first movers and benefit from existing infrastructure like supplier networks, but risk the first mover gaining major advantages through early adoption.
3. The optimal timing depends on factors like customer preferences, the size of the innovation over previous solutions, and availability of complementary technologies.
Timing of entry
1. The document discusses the factors that influence the optimal timing of entry for new technologies. It outlines both potential advantages of being a first mover, such as building brand loyalty, as well as disadvantages like bearing high R&D costs and facing uncertainty over customer needs.
2. Later entrants can benefit from the R&D and marketing efforts of first movers. They also gain knowledge from observing the first mover's experience in the market.
3. Whether a firm should be an early or later entrant depends on several considerations like how established customer preferences and complementary technologies are, and the threat of competition. Firms need strategies to manage these timing and market uncertainties.
Timing of Entry
The document discusses the timing of entry for new products and compares the strategies of early (first) movers versus later (second) movers. It provides background on factors that influence entry timing, such as demand uncertainty and learning curves. The document then compares the first mover advantage of Blackberry's early entry into the smartphone market versus the second mover strategies of Apple's iPhone, which set new standards despite not being first. While first movers can capture large market share, constant innovation is needed to sustain advantages against second movers who can learn from mistakes and improve products.
Timing of entry
In the 1960s, Stanley Milgram addressed a number of letters to a friend of his, a stockbroker in Boston. Milgram then distributed these letters to a random selection of people in Nebraska. He instructed the individuals to pass the letters to the addressee by sending them to a person they knew on a first-name basis who seemed in some way closer (socially, geographically, etc.) to the stockbroker. This person would then do the same, until the letters reached their final destination.
Timing Of Entry
1. A first mover may gain advantages like brand loyalty, technological leadership, and access to scarce resources, but also faces higher risks and costs from bearing R&D expenses and uncertainty over customer needs.
2. The optimal timing of entry depends on factors like the innovation advantage, availability of complements, customer expectations, competitive threats, and presence of increasing returns.
3. Managing entry timing well is complex, as first movers may establish dominance but also face higher failure rates than followers capitalizing on their efforts.
Timing of Entry
In the 1960s, Stanley Milgram addressed a number of letters to a friend of his, a stockbroker in Boston. Milgram then distributed these letters to a random selection of people in Nebraska. He instructed the individuals to pass the letters to the addressee by sending them to a person they knew on a first-name basis who seemed in some way closer (socially, geographically, etc.) to the stockbroker. This person would then do the same, until the letters reached their final destination.
Schilling Chapter 5
There are advantages and disadvantages to being a first mover entering a new market. While first movers can gain brand loyalty and exploit network effects, research shows they also have a high failure rate of around 47% and average only 10% market share. Early leaders who enter after pioneers but gain market leadership tend to do better with three times the market share. Deciding when to enter depends on factors like customer certainty around the new technology, how much better it is than existing options, the state of complementary technologies and goods, competitive threats, network effects, and company resources. Entering too early risks an underdeveloped technology not meeting needs, while waiting risks competitors dominating. The optimal timing balances these risks.
Schilling Chapter 5
There are both advantages and disadvantages to being a first mover when entering a new market. Some advantages include brand loyalty, technological leadership, and exploiting network effects. However, research also shows first movers have a high failure rate of around 47% and average market share of only 10%. Factors like customer certainty around the new technology, the size of improvements, and the degree of competition influence the optimal timing of entry. Later entrants can benefit from the R&D of early entrants and gain knowledge from their experiences, allowing them to potentially enter the market at a lower cost. Managing the timing of entry is complex and depends on whether advantages are clear to customers or if competitors can capitalize on any failures.
Chapter 3 types and patterns of innovation
The path a technology follows through time is termed its technology trajectory. Technology trajectories are most often used to represent the technology’s rate of performance improvement or its rate of adoption in the marketplace.
STRATEGIC OPTIONS IN DIFFERENT INDUSTRIES AND COMPANY SITUATIONS
This document discusses different strategic options for companies based on the industry life cycle stage and competitive situation. It covers strategies for competing in emerging, turbulent, mature, stagnant, fragmented and declining industries. It also discusses general attack strategies such as frontal, flank, encirclement and bypass attacks that a market challenger can use to challenge the market leader in a competitive industry. The strategies recommended include focusing on innovation, cost reduction, differentiation, international expansion, strategic partnerships and quick response capabilities.
Chapter 4 - Standards Battles and Design Dominance
Dominant design A single product or process architecture that dominates a product category—usually 50 percent or more of the market. A dominant design is a “de facto standard,” meaning that while it may not be officially enforced or acknowledged, it has become a standard for the industry.
Business strategy chapter (8)
This document discusses strategies for tailoring a company's strategy based on its industry situation. It covers strategies for emerging industries, rapidly growing markets, mature industries, declining industries, high-velocity markets, and fragmented industries. The key strategies discussed include pursuing early leadership, alliances, cost reductions, innovation, international expansion, focus, differentiation, and flexibility. Risks include raising capital, managing rapid growth, responding to competition and changing demand.
Follower/Latecomer Strategy
The follower strategy involves imitating or copying successful products launched by other companies once their market acceptance is proven. This allows latecomers to benefit from the pioneer's investments in developing the new product and educating the market without having to bear these upfront costs. They can achieve higher profits and learn from the pioneer's mistakes. However, followers risk losing the market to the established leader and receive little credit for innovation. Examples include Xbox following the Wii and Facebook/Zynga entering existing social networks.
Ppt8
This document discusses product life cycles and strategies for entering new markets. It begins with an exhibit showing how opportunities evolve over time, with distinct introduction, growth, maturity, and decline stages. Later sections define categories of new products, discuss advantages and limitations of pioneering vs. following, and outline strategic options for pioneers like mass market penetration, niche penetration, and skimming. The document also addresses circumstances that make each pioneer strategy more likely to succeed and how marketing plans may differ under each approach.
Marketing of high technology
Customer Purchase Decisions
Factors Affecting Technology Adoption
Categories of Adopters
The Chasm
Choosing A Customer Target
Market Segmentation Process
Customer Strategies to Avoid Obsolescence
Migration/Upgrade Decisions
TIMING OF ENTRY
In the 1960s, Stanley Milgram addressed a number of letters to a friend of his, a stockbroker in Boston. Milgram then distributed these letters to a random selection of people in Nebraska. He instructed the individuals to pass the letters to the addressee by sending them to a person they knew on a first-name basis who seemed in some way closer (socially, geographically, etc.) to the stockbroker. This person would then do the same, until the letters reached their final destination
Chapter V Schilling 2017
The document discusses factors that influence the optimal timing of market entry for new products and services. It describes three categories of market entrants: first movers, early followers, and late entrants. First movers can benefit from brand loyalty, technological leadership, and preempting scarce assets, but also bear high research costs and face uncertainty. The optimal timing depends on uncertainties in customer preferences, availability of complementary goods, and likelihood of competitive entry exploiting failures. Managing entry timing well is complex and firms can improve options by understanding these strategic factors.
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Chapter 5 Schilling 2017 Timing of Entry
The document discusses different types of market entrants: first movers, early followers, and late entrants. There are several advantages to being an early entrant, including establishing brand loyalty, preempting scarce resources, exploiting switching costs, and benefiting from increasing returns. However, early entrants also face challenges such as bearing high research and development costs, developing supply chains, and uncertain customer demand. The best timing of market entry depends on factors like technology advantages, availability of complementary goods, competitive threats, and ability to withstand short-term losses.
Chapter 5
- There are three categories of market entrants: first movers (pioneers), early followers, and late entrants.
- Companies that introduce new technologies can build brand loyalty and a reputation as a technological leader in that domain, helping them maintain market share even after competitors enter.
- Early entrants can preempt scarce resources like key locations, permits, patents, distribution channels, and supplier relationships.
- Once customers adopt a product, switching costs like initial purchase price and learning curve make them less likely to change to a competitor's product.
Chapter 5 is strategy
The document discusses the advantages and disadvantages of being a first mover when introducing a new technology to the market. Some key first mover advantages include gaining brand loyalty, preempting scarce resources, and benefiting from network effects. However, first movers also face higher R&D costs, uncertainty over customer preferences, and immature supply chains. The optimal timing of market entry depends on factors like the size of the technology's advantage, the maturity of complementary goods, and the threat of competition. Later entrants can capitalize on the efforts of first movers while avoiding some of their risks.
Timing of entry
1. The chapter discusses the advantages and disadvantages of being a first mover when introducing new technologies to the market. While first movers may build brand loyalty and capture scarce resources, they also bear high R&D costs and face uncertainty over customer needs.
2. Later entrants can benefit from the R&D and marketing of first movers. They also have the advantage of understanding customer preferences that evolved based on the first mover's experience.
3. The optimal timing of market entry depends on factors like the size of the technological advantage, availability of complementary goods, and uncertainty over customer requirements. Firms with fast development cycles have more flexibility in timing their market entry.
Chapter 5
Stanley Milgram conducted an experiment in the 1960s where he sent letters from Boston to random individuals in Nebraska with instructions to pass the letters along to the recipient through acquaintances. This experiment demonstrated the small world phenomenon where people are connected through just a few degrees of separation.
Chapter 5
1. The document discusses the advantages and disadvantages of being a first mover when introducing new technologies to the market. It notes that first movers may be able to build brand loyalty and benefit from increasing returns to adoption, but also face higher R&D costs and uncertainty over customer needs.
2. Later entrants can learn from the mistakes of first movers and benefit from existing infrastructure like supplier networks, but risk the first mover gaining major advantages through early adoption.
3. The optimal timing depends on factors like customer preferences, the size of the innovation over previous solutions, and availability of complementary technologies.
Timing of entry
1. The document discusses the factors that influence the optimal timing of entry for new technologies. It outlines both potential advantages of being a first mover, such as building brand loyalty, as well as disadvantages like bearing high R&D costs and facing uncertainty over customer needs.
2. Later entrants can benefit from the R&D and marketing efforts of first movers. They also gain knowledge from observing the first mover's experience in the market.
3. Whether a firm should be an early or later entrant depends on several considerations like how established customer preferences and complementary technologies are, and the threat of competition. Firms need strategies to manage these timing and market uncertainties.
Timing of Entry
The document discusses the timing of entry for new products and compares the strategies of early (first) movers versus later (second) movers. It provides background on factors that influence entry timing, such as demand uncertainty and learning curves. The document then compares the first mover advantage of Blackberry's early entry into the smartphone market versus the second mover strategies of Apple's iPhone, which set new standards despite not being first. While first movers can capture large market share, constant innovation is needed to sustain advantages against second movers who can learn from mistakes and improve products.
Timing of entry
In the 1960s, Stanley Milgram addressed a number of letters to a friend of his, a stockbroker in Boston. Milgram then distributed these letters to a random selection of people in Nebraska. He instructed the individuals to pass the letters to the addressee by sending them to a person they knew on a first-name basis who seemed in some way closer (socially, geographically, etc.) to the stockbroker. This person would then do the same, until the letters reached their final destination.
Timing Of Entry
1. A first mover may gain advantages like brand loyalty, technological leadership, and access to scarce resources, but also faces higher risks and costs from bearing R&D expenses and uncertainty over customer needs.
2. The optimal timing of entry depends on factors like the innovation advantage, availability of complements, customer expectations, competitive threats, and presence of increasing returns.
3. Managing entry timing well is complex, as first movers may establish dominance but also face higher failure rates than followers capitalizing on their efforts.
Timing of Entry
In the 1960s, Stanley Milgram addressed a number of letters to a friend of his, a stockbroker in Boston. Milgram then distributed these letters to a random selection of people in Nebraska. He instructed the individuals to pass the letters to the addressee by sending them to a person they knew on a first-name basis who seemed in some way closer (socially, geographically, etc.) to the stockbroker. This person would then do the same, until the letters reached their final destination.
Schilling Chapter 5
There are advantages and disadvantages to being a first mover entering a new market. While first movers can gain brand loyalty and exploit network effects, research shows they also have a high failure rate of around 47% and average only 10% market share. Early leaders who enter after pioneers but gain market leadership tend to do better with three times the market share. Deciding when to enter depends on factors like customer certainty around the new technology, how much better it is than existing options, the state of complementary technologies and goods, competitive threats, network effects, and company resources. Entering too early risks an underdeveloped technology not meeting needs, while waiting risks competitors dominating. The optimal timing balances these risks.
Schilling Chapter 5
There are both advantages and disadvantages to being a first mover when entering a new market. Some advantages include brand loyalty, technological leadership, and exploiting network effects. However, research also shows first movers have a high failure rate of around 47% and average market share of only 10%. Factors like customer certainty around the new technology, the size of improvements, and the degree of competition influence the optimal timing of entry. Later entrants can benefit from the R&D of early entrants and gain knowledge from their experiences, allowing them to potentially enter the market at a lower cost. Managing the timing of entry is complex and depends on whether advantages are clear to customers or if competitors can capitalize on any failures.
Chapter 3 types and patterns of innovation
The path a technology follows through time is termed its technology trajectory. Technology trajectories are most often used to represent the technology’s rate of performance improvement or its rate of adoption in the marketplace.
STRATEGIC OPTIONS IN DIFFERENT INDUSTRIES AND COMPANY SITUATIONS
This document discusses different strategic options for companies based on the industry life cycle stage and competitive situation. It covers strategies for competing in emerging, turbulent, mature, stagnant, fragmented and declining industries. It also discusses general attack strategies such as frontal, flank, encirclement and bypass attacks that a market challenger can use to challenge the market leader in a competitive industry. The strategies recommended include focusing on innovation, cost reduction, differentiation, international expansion, strategic partnerships and quick response capabilities.
Chapter 4 - Standards Battles and Design Dominance
Dominant design A single product or process architecture that dominates a product category—usually 50 percent or more of the market. A dominant design is a “de facto standard,” meaning that while it may not be officially enforced or acknowledged, it has become a standard for the industry.
Business strategy chapter (8)
This document discusses strategies for tailoring a company's strategy based on its industry situation. It covers strategies for emerging industries, rapidly growing markets, mature industries, declining industries, high-velocity markets, and fragmented industries. The key strategies discussed include pursuing early leadership, alliances, cost reductions, innovation, international expansion, focus, differentiation, and flexibility. Risks include raising capital, managing rapid growth, responding to competition and changing demand.
Follower/Latecomer Strategy
The follower strategy involves imitating or copying successful products launched by other companies once their market acceptance is proven. This allows latecomers to benefit from the pioneer's investments in developing the new product and educating the market without having to bear these upfront costs. They can achieve higher profits and learn from the pioneer's mistakes. However, followers risk losing the market to the established leader and receive little credit for innovation. Examples include Xbox following the Wii and Facebook/Zynga entering existing social networks.
Ppt8
This document discusses product life cycles and strategies for entering new markets. It begins with an exhibit showing how opportunities evolve over time, with distinct introduction, growth, maturity, and decline stages. Later sections define categories of new products, discuss advantages and limitations of pioneering vs. following, and outline strategic options for pioneers like mass market penetration, niche penetration, and skimming. The document also addresses circumstances that make each pioneer strategy more likely to succeed and how marketing plans may differ under each approach.
Marketing of high technology
Customer Purchase Decisions
Factors Affecting Technology Adoption
Categories of Adopters
The Chasm
Choosing A Customer Target
Market Segmentation Process
Customer Strategies to Avoid Obsolescence
Migration/Upgrade Decisions
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STRATEGIC OPTIONS IN DIFFERENT INDUSTRIES AND COMPANY SITUATIONS
STRATEGIC OPTIONS IN DIFFERENT INDUSTRIES AND COMPANY SITUATIONS
Chapter 4 - Standards Battles and Design Dominance
Chapter 4 - Standards Battles and Design Dominance
Similar to Chapter 5
TIMING OF ENTRY
In the 1960s, Stanley Milgram addressed a number of letters to a friend of his, a stockbroker in Boston. Milgram then distributed these letters to a random selection of people in Nebraska. He instructed the individuals to pass the letters to the addressee by sending them to a person they knew on a first-name basis who seemed in some way closer (socially, geographically, etc.) to the stockbroker. This person would then do the same, until the letters reached their final destination
Chapter V Schilling 2017
The document discusses factors that influence the optimal timing of market entry for new products and services. It describes three categories of market entrants: first movers, early followers, and late entrants. First movers can benefit from brand loyalty, technological leadership, and preempting scarce assets, but also bear high research costs and face uncertainty. The optimal timing depends on uncertainties in customer preferences, availability of complementary goods, and likelihood of competitive entry exploiting failures. Managing entry timing well is complex and firms can improve options by understanding these strategic factors.
Chapter 5 Time of Entry v2.pdf
The document discusses the timing of entry for new technologies and products. It divides entrants into three categories: first movers, early followers, and late entrants. First movers have advantages like brand loyalty and preempting assets, but also risks if customer preferences are uncertain. Whether first movers or followers have the advantage depends on factors such as customer understanding, the innovation's benefits, and availability of complementary technologies. The optimal timing strategy considers these factors as well as the threat of competition, potential for increasing returns, and the firm's resources and reputation. Entering too early risks failure if advantages are unclear, while entering too late loses first-mover benefits.
Timing of Entry
Being a first mover may confer the advantages of brand loyalty and technological leadership, preemption of scarce assets, and exploitation of buyer switching costs.
Chapter 05
The document discusses the timing of entry for new products and services. It describes three categories of entrants: first movers, who are the first to sell in a new category; early followers, who enter the market early but not first; and late entrants, who enter after a product begins mass market penetration. First movers can benefit from brand loyalty, technological leadership, preempting scarce assets like locations and licenses, and exploiting customer switching costs. However, very early technologies may fail if network effects and complements are not yet developed.
Chapter 13 crafting a deployment strategy
The value of any technological innovation is only partly determined by what the tech-nology can do. A large part of the value of an innovation is determined by the degree to which people can understand it, access it, and integrate it within their lives. Effective deployment strategies can reduce uncertainty about the product, lower resistance to switching from competing or substitute goods, and accelerate adoption.
Business and the Technological Environment
An introductory presentation here for business students outlining the relationship between business strategy and technological environment. The role of technological change as an opportunity or threat is examined as are the drivers of innovation and the process of diffusion.
Capter 5
The document discusses factors that influence the optimal timing of entry for new technologies and innovations. It notes that first movers may benefit from brand loyalty and network effects but also face higher costs and risks from developing an immature market. Later entrants can benefit from the pioneer's efforts but may miss opportunities for leadership. The best timing depends on advantages of the innovation, supporting technologies, customer expectations, competition levels, and a firm's resources.
Strategy and Technological Change
Technology can provide competitive advantages if a company can exploit it before competitors. The document discusses how technology affects Porter's Five Forces and provides examples of how new processes, products, or approaches can impact barriers to entry, substitutes, and competitive rivalry. It also examines factors that influence the adoption of new technologies like the degree of improvement, compatibility with existing products, and customer awareness and observability of the new technology.
be checked against norms for the product category to see whether t.docx
be checked against norms for the product category to see whether the concept appears to be a winner,
a long shot, or a loser. One food manufacturer rejects any concept that draws a definitely-would-buy
score lower than 40 percent.
Conjoint Analysis Consumer preferences for alternative product concepts can be measured
with conjoint analysis, a method for deriving the utility values that consumers attach to varying
levels of a product’s attributes.85 Conjoint analysis has become one of the most popular conceptdevelopment
and testing tools. For example, Marriott used it to design its Courtyard hotel concept.86
With conjoint analysis, respondents see different hypothetical offers formed by combining varying
levels of the attributes and rank them. Management can then identify the most appealing offer and
its estimated market share and profit. In a classic illustration, academic research pioneers Green and
Wind used this approach in connection with developing a new spot-removing, carpet-cleaning agent
for home use.87 Suppose the new-product marketer is considering five design elements:
• Three package designs (A, B, C—see Figure 15.4)
• Three brand names (K2R, Glory, Bissell)
• Three prices ($1.19, $1.39, $1.59)
• A possible Good Housekeeping seal (yes, no)
• A possible money-back guarantee (yes, no)
Although the researcher can form 108 possible product concepts with these five elements (3 × 3 × 3 × 2 × 2), it
would be too much to ask consumers to rank them all from most to least preferred. A sample of, say, 18 contrasting
product concepts is feasible.
The marketer now uses a statistical program to derive the consumer’s utility functions for each of the five attributes
(see Figure 15.5). Utility ranges between zero and one; the higher the utility, the stronger the consumer’s
preference for that level of the attribute. Looking at packaging, package B is the most favored, followed by C and
then A (A has hardly any utility). The preferred names are Bissell, K2R, and Glory in that order. The consumer’s
utility varies inversely with price. A Good Housekeeping seal is preferred, but it does not add that much utility and
may not be worth the effort to obtain it. A money-back guarantee is strongly preferred.
The consumer’s most desired offer is package design B, brand name Bissell, priced at $1.19, with a Good
Housekeeping seal and a money-back guarantee. We can also determine the relative importance to this consumer
of each attribute—the difference between the highest and lowest utility level for that attribute. The greater the
PAGES 475-480
Business-Goods Market Testing Business goods can also benefit from market testing. Expensive
industrial goods and new technologies will normally undergo alpha and beta testing.100 During beta testing, the
company’s technical people observe how customers use the product, a practice that often exposes unanticipated
problems of safety and servicing and alerts the company to customer training and servicing requirements..
Ppt 5
This document discusses strategies for deploying technological innovations. It addresses timing a product launch to take advantage of business cycles or seasons. It also discusses pricing strategies like maximizing profits or ensuring survival. The document also covers distribution strategies like forging alliances with distributors, creating bundling relationships, and sponsoring large customer groups to accelerate adoption of the technology. Marketing strategies are also important to consider based on the target market and innovation characteristics.
Chapter 3
Managing the timing of market entry is complex, as entering early can provide advantages if the technology clearly benefits consumers, but may receive a poor reception if advantages are unclear. Later entrants can benefit from the research and development of early firms. For a firm to truly control entry timing, it must have the capabilities to develop the technology or gain them quickly. Firms with very fast development processes can introduce refined versions of technologies quickly based on customer feedback, taking advantage of both first- and second-mover benefits. Development times can be shortened through alliances, cross-functional teams, and parallel processes.
Ppt5 181219044931
The document discusses strategies for deploying technological innovations, including:
1. Timing product launches can be an important deployment strategy, as illustrated by video game companies releasing new consoles in time for the Christmas season.
2. Pricing is also crucial, with objectives like maximizing profits or ensuring survival through covering costs.
3. Distribution methods like selling directly, using intermediaries, or partnering with distributors can accelerate adoption of an innovation. Building alliances and bundling with existing popular products helps the new technology gain traction.
4. Marketing must consider the target market and innovation's benefits, employing methods like advertising, promotions, and generating publicity to educate customers and shape perceptions of the
Chapter 5 - Timing of Entry
- There are three categories of market entry: first movers (pioneers), early followers, and late entrants. Research on which is better yields conflicting results.
- First movers may gain advantages like brand loyalty, technological leadership, securing scarce resources, and exploiting buyer switching costs. However, first movers also face higher risks of failure.
- Whether it is better to be a first mover or follower depends on factors like network effects, switching costs, resource scarcity, and ability to establish standards in the industry. The optimal timing strategy varies by market.
Entreprenure presentation.pptx
The document discusses the assessment of entrepreneurial plans. It outlines several factors that should be considered when evaluating new venture opportunities during the pre-startup and startup phases, including uniqueness, investment needs, expected growth, product/service availability, and customer availability. It then describes various processes for analyzing opportunities, including conducting a landscape analysis considering political, economic, social, technological, environmental, and legal factors; assessing the industry environment using models like Porter's Five Forces; analyzing uncertainties, barriers to entry, competitors; and conducting technical, market, financial, and organizational profiles. It concludes by discussing common pitfalls in selecting new ventures like lack of objectivity, insufficient market insights, technical/financial misunderstandings, lack of uniqueness, and
Innovation technology questions1 Explain how computer-aided de.docx
Innovation technology questions
1 Explain how computer-aided design and flexible manufacturing technologies help create small niches in the market place. Provide an example to illustrate your answer
Answer: Computer-aided design and flexible manufacturing help create small niches in the marketplace by allowing firms to develop and produce a greater number of versions of their products. This means that companies can now tailor their offerings to small niches in the marketplace. For example, in 2012, Toyota offered 16 different passenger vehicle lines under the Toyota brand (e.g., Camry, Prius, Highlander, and Tundra). Within each of the vehicle lines, Toyota also offered several different models (e.g., Camry L, Camry LE, Camry SE) with different features and at different price points. Students’ answers will vary.
Page: 1
2At a retreat by the Cleveland City Council, community leaders held a discussion on attracting and developing new businesses and increasing employment rates in the city. One leader suggested that the city should consider sponsoring a business incubator. Explain what an incubator is and how this might help the city meet its goals. What other ideas should be considered
Answer: An incubator is an institution designed to nurture the development of new businesses that might otherwise lack access to funding or advice. It allows companies to share costs and resources until they can stand on their own. If an incubator were started in Salisbury, it would help new businesses to grow and prosper. These businesses could then move out to locations of their own and hire local residents as employees. The city would not have to offer tax breaks or compete with other cities for the location of existing companies, but would be growing their own businesses.
Page: 29-31
3 How can the s-curves be used as a prescriptive tool? What would be the limitations of this approach?
Answer: Managers can use the s-curve model as a tool for predicting when a technology will reach its limits and as a prescriptive guide for whether and when the firm should move to a new, more radical technology. Firms can use data on the investment and performance of their own technologies, or data on the overall industry investment in a technology and the average performance achieved by multiple producers. Managers could then use these curves to assess whether a technology appears to be approaching its limits or to identify new technologies that might be emerging on s-curves that will intersect the firm’s technology s-curve. Managers could then switch s-curves by acquiring or developing the new technology.
However, there are many limitations to doing this. First, it is rare that the true limits of a technology are known in advance, and there is often considerable disagreement among firms about what a technology’s limits will be. Second, the shape of a technology’s s-curve is not set in stone. Unexpected changes in the market, component technologies, or complementary techno.
Angga efriansyah schilling
Technological innovation is now a key driver of competition for many firms. The document discusses several chapters about the importance and sources of innovation. Chapter 1 notes that innovation fosters economic and social benefits but may also create negatives. Chapter 2 outlines various sources of innovation, including individual inventors, users, research collaborations, and government efforts. Chapter 3 describes different types of innovation and typical patterns of technological change and adoption over time.
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be checked against norms for the product category to see whether t.docx
be checked against norms for the product category to see whether t.docx
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Chapter 5
- 1. CHAPTER 5 SCHILLING 2017 Timing of Entry By : Finia Rahma
- 2. Timing of Entry Entrants are often divided into three categories: • first movers (or pioneers), which are the first to sell in a new product or service category; • early followers (also called early leaders), which are early to the market but not first; and • late entrants, which enter the market when or after the product begins to penetrate the mass market.
- 3. FIRST-MOVER ADVANTAGES • Brand Loyalty and Technological Leadership The company that introduces a new technology may earn a long-lasting reputation as a leader in that technology domain. Such a reputation can help sustain the company’s image, brand loyalty, and market share even after competitors have introduced comparable products.
- 4. FIRST-MOVER ADVANTAGES • Preemption of Scarce Assets Firms that enter the market early can preemptively capture scarce resources such as key locations, government permits, patents, access to distribution channels, and relationships with suppliers.
- 5. FIRST-MOVER ADVANTAGES • Exploiting Buyer Switching Costs Once buyers have adopted a good, they often face costs to switch to another good. For example, the initial cost of the good is itself a switching cost, as is the cost of complements purchased for the good. Additionally, if a product is complex, buyers must spend time becoming familiar with its operation; this time investment becomes a switching cost that deters the buyer from switching to a different product
- 6. FIRST-MOVER ADVANTAGES • Reaping Increasing Returns Advantages In an industry with pressures encouraging adoption of a dominant design, the timing of a firm’s investment in new technology development may be particularly critical to its likelihood of success
- 7. FIRST-MOVER DISADVANTAGES • Research and Development Expenses Developing a new technology often entails significant research and development expenses, and the first to develop and introduce a technology typically bears the brunt of this expense. By the time a firm has successfully developed a new technology, it may have borne not only the expense of that technology but also the expense of exploring technological paths that did not yield a commercially viable product
- 8. FIRST-MOVER DISADVANTAGES • Undeveloped Supply and Distribution Channels When a firm introduces a new-to-the-world technology, often no appropriate suppliers or distributors exist. The firm may face the daunting task of developing and producing its own supplies and distribution service, or assisting in the development of supplier and developer markets
- 9. FIRST-MOVER DISADVANTAGES Immature Enabling Technologies and Complements When firms develop technologies, they often rely on other producers of enabling technologies. For instance, the opening vignette demonstrated that even though producers of personal digital assistants (PDAs) had created palm-size devices with significant computing power, the potential of these devices would be delivered only if battery and modem technologies were further developed.
- 10. FIRST-MOVER DISADVANTAGES Uncertainty of Customer Requirements A first mover to the market may face considerable uncertainty about what produc features customers will ultimately desire and how much they will be willing to pay for them. For a very new product technology, market research may be of little help.
- 11. FACTORS INFLUENCING OPTIMAL TIMING OF ENTRY 1. How certain are customer preferences? 2. How much improvement does the innovation provide over previous solutions? 3. Does the innovation require enabling technologies, and are these technologies sufficiently mature?
- 12. FACTORS INFLUENCING OPTIMAL TIMING OF ENTRY 4. Do complementary goods influence the value of the innovation, and are they sufficiently available? 5. How high is the threat of competitive entry? 6. Is the industry likely to experience increasing returns to adoption?
- 13. FACTORS INFLUENCING OPTIMAL TIMING OF ENTRY 7. Can the firm withstand early losses? 8. Does the firm have resources to accelerate market acceptance? 9. Is the firm’s reputation likely to reduce the uncertainty of customers, suppliers, and distributors?
- 14. STRATEGIES TO IMPROVE TIMING OPTIONS As should now be clear, managing the timing of entry into the market is a complex matter. If the technology has a clear advantage to consumers, entering the market early may give the entrant a path-dependent advantage that is nearly impossible for competitors to overcome. If, on the other hand, a firm enters a market very early and the advantages of the technology are not very clear to consumers, there is a strong possibility that the technology will receive a tepid welcome
- 15. STRATEGIES TO IMPROVE TIMING OPTIONS Confounding this risk is the fact that watchful competitors may be able to use the firm’s failure to their advantage, refining the technology the firm has introduced to the market and making any corrections necessary to improve the technology’s market acceptance. The later entrant may be able to enter at a lower cost because it can capitalize on the research and development of the early firm, and use knowledge of the market gained from observing the early entrant’s experience.