© 2000 John Petroff
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© 2000 John Petroff |
It is difficult to predict an entirely new product. But, most products evolve over time with periodic additions of features that reflect changing consumers preferences and successful applications in unrelated fields. An example of changing consumer preferences is that of environment concerns which have been growing over the past half century. An analyst must study competing products to identify which company best responds to consumer concerns. Likewise, the analyst must also follow closely product development, for instance, those that take advantage of computer based improvements (because of unrelenting improvements in computer performance and price reduction). Appliances, cars, and especially manufacturing processes assisted and/or controlled by computers already exist and are predicted to become widespread. This is common knowledge. It is an analyst's task to make the correct inferences about which products will enter their own mini product life cycle associated with its computerization.
See review questions Q-14F2.1 through Q-14F2.3.
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