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The Evolution of New Markets$
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Paul Geroski

Print publication date: 2003

Print ISBN-13: 9780199248896

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0199248893.001.0001

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Developing the New Product Design

Developing the New Product Design

(p.101) 4 Developing the New Product Design
The Evolution of New Markets

P. A. Geroski

Oxford University Press

Explains how from a muddle of product proliferation, emerges a dominant design. It begins by noting the interest that both consumers and producers have to standardize products. Then identifies the idea of a dominant design with that of a ‘consensus good’ and describes how this ‘consensus’ is reached in the market. Illustrations are drawn from several product‐case studies such as typewriters, computer operating systems, video cassette recorders, automobiles, and quadraphonic sound.

Keywords:   automobiles, computer operating systems, consensus good, dominant design, network effect, New market, quadraphonic sound, standardization, typewriters, video cassette recorders

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