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Question
Delta Cleaning Equipment Corp. is experimenting with a faster and quieter machine to polish floors. To develop this concept, the company is contemplating using the lead user method of concept development. How does this method work? What are its advantages?Answer
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D. the product design is adopted by the majority of producers.
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Technological innovations increase:
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Technological innovation decreases the amount of output achievable from a given quantity of labor and capital.
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The learning curve indicates that the more units a company produces of an item, the more each unit will cost.
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What are the factors that determine whether switching to a new technology will benefit a firm?
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How can the s-curves be used as a prescriptive tool? What would be the limitations of this approach?
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Once a new product design becomes a dominant design:
A. the product is no longer profitable.
B. it becomes difficult for competitors to imitate.
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Iris is quite skeptical about new innovations and is most likely to adopt something new only after experiencing peer pressure to adopt the new innovation. However, she is not so risk averse that she will wait until all uncertainty of a new technology has been resolved; she is willing to accept a little uncertainty if her peers already use the product. Which of the following adopter categories does Iris belong to?
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Speeding Horse Inc., a leader in the video game console market, is making its new generation consoles backward compatible with its previous games. This means that:
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In the context of a firm's product diffusion curve, when there is a chasm between early adopters and early majority customers:
A. the firm must reduce its production capacity.
B. the firm should improve its efficiency to target the mass market.
C. the early majority market becomes saturated.
D. the early majority market is ready to buy the product.