search query: @author Bayus, B.L. / total: 2
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| Author: | Agarwal, R. Bayus, B.L. |
| Title: | The market evolution and sales takeoff of product innovations |
| Journal: | Management Science
2002 : AUG, VOL. 48:8, p. 1024-1041 |
| Index terms: | Entrepreneurship Entry conditions New products Product development |
| Language: | eng |
| Abstract: | The authors argue that outward shifting supply and demand curves lead to market takeoff, which is contrary to the prevailing supply-side explanation that price decreases are the key driver of a sales takeoff. The fundamental idea is that sales in new markets are initially low because the first commercialized forms of new innovations are primitive. When new companies enter, actual and perceived product quality improves, which leads to a takeoff in sales. To provide empirical evidence for this explanation, the relationships between takeoff times, price decreases, and company entry are explored for a sample of consumer and industrial product innovations commercialized in the US over the past 150 years. |
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