Ent3613 Study guides, Class notes & Summaries

First-Movers The first entrants to sell in a new product or service category. Early Followers Entrants that are early to market, but not first. Late Entrants Entrants that do not enter until product/service is penetrated mass market. Monopoly Rents The additional returns (either higher revenues or lower costs) a firm can make from being a monopolist, such as the ability to set high prices, or the ability to lower costs through greater bargaining power over suppliers. Incumbent Inertia Th...

What is technological innovation?The act of introducing a new device, method, or material for application to commercial or practical objectives (solves a problem); they are novel and have never been done before; it is now the single most important driver of competitive success in many industries What are externalities?Costs (or benefits) that are borne (or reaped) by individuals other than those responsible for creating them. Thus, if a business emits pollutants in a community, it imp...

Module seven's learning objective can be best described as helping you develop yourability to evaluate a proposal's value and justify further investment. In the Owlet video, when Tanner was rejected by the hospital administrators, what valuable lesson did he learn?Your user is not always your customer In his customer discovery research for his T-shirt design company, Kyle wants to learn what proportion of millennials identify with characters from the TV show Bob's Burgers. Which of ...