- Name three factors that impact how a new technological innovation fits existing market conditions
- Path dependency: the future is an extension of the past, and you must take into account the history of developments that are already embedded in commerce. For example the keyboards. There have been other ones (that are even better) but nobody uses them because they are so used to QWERTY keyboards already.
- Network effects which means that the more people use a service/product, the higher the value for the new users.
- Government regulations
- Name 2 factors that impact the “market window of opportunity. “
- The hype cycle
- The technology adoption cycle
- Name a product that is currently being used by early adopters only.
I would say Apple Pay. It is available for customers to use since 2014. But only a few people are using it for now.
Apple pay is a good example! Although it’s been out for some time there are so many types of “wallets” it just gets lost with all the other ones. There are also a lot of people with trust issues regarding their credit and bank cards. Apple should advertise this product a little more.
Regarding the keyboards it will be so hard to use another kind of keyboard and so many people learn, since elementary school, how to type without looking at the keys using the qwerty keyboard.
Thank for your insightful comment. I completely agree with your point.
What do you think is the main factor preventing the Apple Pay from being adopted by the majority?
I think as Gaby said, there are already so many payment methods available. And also, as a consumer, I do not perceive the advantages of using Apple Pay or at least what makes it different than the other ones I use. I completely agree with her when she says the company should advertise more that specific product, especially the benefits.