Introduction
The total number of product generations is not pre-
specified; rather, it is determined by the pace of
technology improvement along with the firm’s dynamic
decisions on when to introduce.
Analysis is centered upon two key influences affecting
the introduction timing decisions:
–
(1) demand diffusion dynamics, where future product demand is
a function of past sales
–
(2) technology improvement process, specifically the concept
that delaying introduction to a later date may lead to the capture
of further improvements in product technology.
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