Developing the New Product Design

P. A. Geroski

in The Evolution of New Markets

Published in print April 2003 | ISBN: 9780199248896
Published online November 2003 | e-ISBN: 9780191596308 | DOI:
 Developing the New Product Design

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Explains how from a muddle of product proliferation, emerges a dominant design. It begins by noting the interest that both consumers and producers have to standardize products. Then identifies the idea of a dominant design with that of a ‘consensus good’ and describes how this ‘consensus’ is reached in the market. Illustrations are drawn from several product‐case studies such as typewriters, computer operating systems, video cassette recorders, automobiles, and quadraphonic sound.

Keywords: automobiles; computer operating systems; consensus good; dominant design; network effect; New market; quadraphonic sound; standardization; typewriters; video cassette recorders

Chapter.  13702 words. 

Subjects: Microeconomics

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