BCOR 2304 CH 5

the long tail

A business model in which companies can obtain a large part of their revenues by selling a small number of units from among almost unlimited choice is referred to as _____.

the crossing-the-chasm framework

A model that argues there is a chasm between the Early Adopters of the product, who are the technology enthusiasts and visionaries, and the Early Majority

Architectural Innovation

Architectural innovation is a redesigned method to move products/services into a new market, still based on existing knowledge of core technology.

Disruptive Innovation

Disruptive innovation is a new product that disrupts the existing market with the help of new technologies. It often starts at low-demanding customers with a "good enough" product performance.

What question is asked along the horizontal axis of the markets-and-technology framework?

Does the innovation build on existing technologies or create new ones?

Incremental Innovation

Incremental can be perceived as continuous innovation. It builds on existing knowledge of technology to continuously improve on the existing product in the minority and targeted existing markets.

Radical Innovation

Radical innovation is the opposite concept of Incremental innovation. This one applied either new technology or combine new with existing technologies, which targets new markets to build new products.

Which term is used for the customer segment in the introductory stage of the industry life cycle?

Technology enthusiasts

Place the four steps of the innovation process in order from first to last

idea, invention, innovation, imitation

Which of the following are types of innovation?

incremental disruptive architectural radical

Which of the following are stages of the industry life cycle?

introduction shakeout maturity decline growth

A firm that successfully leverages network effects can ___.

push its industry into the growth stage

It is common for firms to get their start by introducing a(n) ______ innovation.

radical

Crossing the chasm framework (adaptation life cycle)

technology enthusiasts, early adopters, early majority, late majority, laggards.

During the decline stage of the industry life cycle, product innovation efforts ______.

come to a halt

In the ______ stage of the industry life cycle, falling demand leads to a reduction in market size.

decline

Which customer segment dominates the market growth stage of the industry life cycle?

early adopters

creative destruction

The negative effect of innovative ride-sharing services, such as Uber and Lyft, on traditional taxi cab companies is an example of ______.