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Chapter 7 Strategy and Technology
MGT 499 International Business Test 2
10
Management
Undergraduate 4
03/04/2019

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Cards

Term
Technical Standards
Definition

A set of technical specifications that producers adhere to when making a product or component.

Term
Format Wars
Definition

Battles to control the source of differentiation, and thus the value that such differentiation can create for the customer.

Term
Dominant Design
Definition

Common set of features or design characteristics.

Term
Public Domain
Definition

Government or association-set standards of knowledge or technology that any company can freely incorporate into its product.

Term
Network Effects
Definition

The network of complementary products as a primary determinant of the demand for an industry's product.

Term
Killer Applications
Definition

Applications or uses of a new technology or product that are so compelling that customers adopt them in droves, killing competitive factors.

Term
Razor and Blade Strategy
Definition

Pricing the product low in order to stimulate demand, and pricing complements high.

Term
First Mover
Definition

A firm that pioneers a particular product category or feature by being first to offer it to market.

Term
First-Mover Disadvantages
Definition

Competitive disadvantages associated with being first to market.

Term
Technological Paradigm Shift
Definition

Shifts in new technologies that revolutionize the structure of the industry, dramatically alter the nature of competition, and require companies to adopt new strategies in order to survive.

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