Technology Entrepreneurship
1) Name three factors that impact how a new technological innovation fits existing markets conditions.
One factor would be the early users’ experience as well as its positive qualities and already determined standards in the market, these can serve as samples to follow. Another factor would be the already set government regulations; they would impact how new technological innovation fits existing market conditions. Another factor would be the involvement of the early users in developing the product or service, this would help getting their feedback and enable the development of the product or service.
3) Name two factors that impact the “market window of opportunity.”
Two factors that impact the “market window of opportunity” are: 1) the experimentation with early adopters as the marketing plan is polished and 2) the awareness of where you stand on the hype cycle as innovation is promoted.
5) Name a product that is currently being used by early adopters only.
The first iPhone. It was launched in 2007 and its price was $600, two months later, Apple lowered the price; nonetheless, early adopters camped out in front of Apple stores to get their hands on the first version.