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what are some of the ways a firm can try to increase the overall value of...

what are some of the ways a firm can try to increase the overall value of its technology and its likelihood of becoming design?

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Answer #1

Firms can increase the likelihood that their technology will become the dominant design by

a.increasing the technologies’ standalone value to the customer (e.g. superior functionality at a competitive cost),

b.increasing the technologies’ network externalities value by

i.)encouraging developers of complementary assets to create products for their technologies,

ii.)advertising heavily to create a perception that the installed base is larger than it is or that a new product with superior capabilities will be launched soon (so that consumers do not buy a product already available),

iii.)leveraging an incumbent technology’s complementary assets and installed base by making their technology compatible with the incumbent technology

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