• Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint
Share this Page URL
Help

Chapter 5. Understanding Customer Adoption > Understanding Market Dynamics

Understanding Market Dynamics

Another important aspect of being successful at introducing new products or services lies in understanding market dynamics. Successful technology entrepreneurs recognize the dynamism of markets and understand the evolutionary patterns of growth and development of products and services in these markets. Therefore, they use dynamic strategies to introduce their new products or services. This section introduces some of the key principles of market dynamics that successful entrepreneurs exploit to their advantage.

Markets for all new products and services are initially small. After all, the day before a market is created, its size is zero. Because all markets for new products and services begin at zero and grow from there, estimating the size of the market for a new product or service is not easy. It requires you to engage in a couple of key activities. You must avoid the trap of making static estimates of markets. You must understand the factors that influence the diffusion and substitutions of new products and services.


PREVIEW

                                                                          

Not a subscriber?

Start A Free Trial


  
  • Creative Edge
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint