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Traditionally, the first firm to commercialize a new technology has benefited from the unique opportunity to shape product definitions, forcing followers to adapt to a standard or invest in an unproven alternative. Today, however, the largest payoffs may go to companies that lead in developing integrated approaches for successful mass production and distribution.Producers of the Beta format for videocassette recorders (VCR’s), for example, were first to develop the VCR commercially in 1975, but producers of the rival VHS (Video Home System) format proved to be more successful at forming strategic alliances with other producers and distributors to manufacture and market their VCR format. Seeking to maintain exclusive control over VCR distribution, Beta producers were reluctant to form such alliances and eventually lost ground to VHS in the competition for the global VCR market.Despite Beta’s substantial technological head start and the fact that VHS was neither technically better nor cheaper than Beta, developers of VHS quickly turned a slight early lead in sales into a dominant position. Strategic alignments with producers of prerecorded tapes reinforced the VHS advantage. The perception among consumers that prerecorded tapes were more available in VHS format further expanded VHS’s share of the market. By the end of the 1980’s, Beta was no longer in production.Q. According to the passage, today’s successful firms, unlike successful firms in the past, may earn the greatest profits bya)being the first to market a competing technology.b)adapting rapidly to a technological standard previously set by a competing firm.c)establishing technological leadership in order to shape product definitions in advance of competing firms.d)emphasizing the development of methods for the mass production and distribution of a new technology.Correct answer is option 'D'. Can you explain this answer? for CLAT 2024 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about Traditionally, the first firm to commercialize a new technology has benefited from the unique opportunity to shape product definitions, forcing followers to adapt to a standard or invest in an unproven alternative. Today, however, the largest payoffs may go to companies that lead in developing integrated approaches for successful mass production and distribution.Producers of the Beta format for videocassette recorders (VCR’s), for example, were first to develop the VCR commercially in 1975, but producers of the rival VHS (Video Home System) format proved to be more successful at forming strategic alliances with other producers and distributors to manufacture and market their VCR format. Seeking to maintain exclusive control over VCR distribution, Beta producers were reluctant to form such alliances and eventually lost ground to VHS in the competition for the global VCR market.Despite Beta’s substantial technological head start and the fact that VHS was neither technically better nor cheaper than Beta, developers of VHS quickly turned a slight early lead in sales into a dominant position. Strategic alignments with producers of prerecorded tapes reinforced the VHS advantage. The perception among consumers that prerecorded tapes were more available in VHS format further expanded VHS’s share of the market. By the end of the 1980’s, Beta was no longer in production.Q. According to the passage, today’s successful firms, unlike successful firms in the past, may earn the greatest profits bya)being the first to market a competing technology.b)adapting rapidly to a technological standard previously set by a competing firm.c)establishing technological leadership in order to shape product definitions in advance of competing firms.d)emphasizing the development of methods for the mass production and distribution of a new technology.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CLAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Traditionally, the first firm to commercialize a new technology has benefited from the unique opportunity to shape product definitions, forcing followers to adapt to a standard or invest in an unproven alternative. Today, however, the largest payoffs may go to companies that lead in developing integrated approaches for successful mass production and distribution.Producers of the Beta format for videocassette recorders (VCR’s), for example, were first to develop the VCR commercially in 1975, but producers of the rival VHS (Video Home System) format proved to be more successful at forming strategic alliances with other producers and distributors to manufacture and market their VCR format. Seeking to maintain exclusive control over VCR distribution, Beta producers were reluctant to form such alliances and eventually lost ground to VHS in the competition for the global VCR market.Despite Beta’s substantial technological head start and the fact that VHS was neither technically better nor cheaper than Beta, developers of VHS quickly turned a slight early lead in sales into a dominant position. Strategic alignments with producers of prerecorded tapes reinforced the VHS advantage. The perception among consumers that prerecorded tapes were more available in VHS format further expanded VHS’s share of the market. By the end of the 1980’s, Beta was no longer in production.Q. According to the passage, today’s successful firms, unlike successful firms in the past, may earn the greatest profits bya)being the first to market a competing technology.b)adapting rapidly to a technological standard previously set by a competing firm.c)establishing technological leadership in order to shape product definitions in advance of competing firms.d)emphasizing the development of methods for the mass production and distribution of a new technology.Correct answer is option 'D'. Can you explain this answer?.

Solutions for Traditionally, the first firm to commercialize a new technology has benefited from the unique opportunity to shape product definitions, forcing followers to adapt to a standard or invest in an unproven alternative. Today, however, the largest payoffs may go to companies that lead in developing integrated approaches for successful mass production and distribution.Producers of the Beta format for videocassette recorders (VCR’s), for example, were first to develop the VCR commercially in 1975, but producers of the rival VHS (Video Home System) format proved to be more successful at forming strategic alliances with other producers and distributors to manufacture and market their VCR format. Seeking to maintain exclusive control over VCR distribution, Beta producers were reluctant to form such alliances and eventually lost ground to VHS in the competition for the global VCR market.Despite Beta’s substantial technological head start and the fact that VHS was neither technically better nor cheaper than Beta, developers of VHS quickly turned a slight early lead in sales into a dominant position. Strategic alignments with producers of prerecorded tapes reinforced the VHS advantage. The perception among consumers that prerecorded tapes were more available in VHS format further expanded VHS’s share of the market. By the end of the 1980’s, Beta was no longer in production.Q. According to the passage, today’s successful firms, unlike successful firms in the past, may earn the greatest profits bya)being the first to market a competing technology.b)adapting rapidly to a technological standard previously set by a competing firm.c)establishing technological leadership in order to shape product definitions in advance of competing firms.d)emphasizing the development of methods for the mass production and distribution of a new technology.Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CLAT. Download more important topics, notes, lectures and mock test series for CLAT Exam by signing up for free.

Here you can find the meaning of Traditionally, the first firm to commercialize a new technology has benefited from the unique opportunity to shape product definitions, forcing followers to adapt to a standard or invest in an unproven alternative. Today, however, the largest payoffs may go to companies that lead in developing integrated approaches for successful mass production and distribution.Producers of the Beta format for videocassette recorders (VCR’s), for example, were first to develop the VCR commercially in 1975, but producers of the rival VHS (Video Home System) format proved to be more successful at forming strategic alliances with other producers and distributors to manufacture and market their VCR format. Seeking to maintain exclusive control over VCR distribution, Beta producers were reluctant to form such alliances and eventually lost ground to VHS in the competition for the global VCR market.Despite Beta’s substantial technological head start and the fact that VHS was neither technically better nor cheaper than Beta, developers of VHS quickly turned a slight early lead in sales into a dominant position. Strategic alignments with producers of prerecorded tapes reinforced the VHS advantage. The perception among consumers that prerecorded tapes were more available in VHS format further expanded VHS’s share of the market. By the end of the 1980’s, Beta was no longer in production.Q. According to the passage, today’s successful firms, unlike successful firms in the past, may earn the greatest profits bya)being the first to market a competing technology.b)adapting rapidly to a technological standard previously set by a competing firm.c)establishing technological leadership in order to shape product definitions in advance of competing firms.d)emphasizing the development of methods for the mass production and distribution of a new technology.Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Traditionally, the first firm to commercialize a new technology has benefited from the unique opportunity to shape product definitions, forcing followers to adapt to a standard or invest in an unproven alternative. Today, however, the largest payoffs may go to companies that lead in developing integrated approaches for successful mass production and distribution.Producers of the Beta format for videocassette recorders (VCR’s), for example, were first to develop the VCR commercially in 1975, but producers of the rival VHS (Video Home System) format proved to be more successful at forming strategic alliances with other producers and distributors to manufacture and market their VCR format. Seeking to maintain exclusive control over VCR distribution, Beta producers were reluctant to form such alliances and eventually lost ground to VHS in the competition for the global VCR market.Despite Beta’s substantial technological head start and the fact that VHS was neither technically better nor cheaper than Beta, developers of VHS quickly turned a slight early lead in sales into a dominant position. Strategic alignments with producers of prerecorded tapes reinforced the VHS advantage. The perception among consumers that prerecorded tapes were more available in VHS format further expanded VHS’s share of the market. By the end of the 1980’s, Beta was no longer in production.Q. According to the passage, today’s successful firms, unlike successful firms in the past, may earn the greatest profits bya)being the first to market a competing technology.b)adapting rapidly to a technological standard previously set by a competing firm.c)establishing technological leadership in order to shape product definitions in advance of competing firms.d)emphasizing the development of methods for the mass production and distribution of a new technology.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Traditionally, the first firm to commercialize a new technology has benefited from the unique opportunity to shape product definitions, forcing followers to adapt to a standard or invest in an unproven alternative. Today, however, the largest payoffs may go to companies that lead in developing integrated approaches for successful mass production and distribution.Producers of the Beta format for videocassette recorders (VCR’s), for example, were first to develop the VCR commercially in 1975, but producers of the rival VHS (Video Home System) format proved to be more successful at forming strategic alliances with other producers and distributors to manufacture and market their VCR format. Seeking to maintain exclusive control over VCR distribution, Beta producers were reluctant to form such alliances and eventually lost ground to VHS in the competition for the global VCR market.Despite Beta’s substantial technological head start and the fact that VHS was neither technically better nor cheaper than Beta, developers of VHS quickly turned a slight early lead in sales into a dominant position. Strategic alignments with producers of prerecorded tapes reinforced the VHS advantage. The perception among consumers that prerecorded tapes were more available in VHS format further expanded VHS’s share of the market. By the end of the 1980’s, Beta was no longer in production.Q. According to the passage, today’s successful firms, unlike successful firms in the past, may earn the greatest profits bya)being the first to market a competing technology.b)adapting rapidly to a technological standard previously set by a competing firm.c)establishing technological leadership in order to shape product definitions in advance of competing firms.d)emphasizing the development of methods for the mass production and distribution of a new technology.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Traditionally, the first firm to commercialize a new technology has benefited from the unique opportunity to shape product definitions, forcing followers to adapt to a standard or invest in an unproven alternative. Today, however, the largest payoffs may go to companies that lead in developing integrated approaches for successful mass production and distribution.Producers of the Beta format for videocassette recorders (VCR’s), for example, were first to develop the VCR commercially in 1975, but producers of the rival VHS (Video Home System) format proved to be more successful at forming strategic alliances with other producers and distributors to manufacture and market their VCR format. Seeking to maintain exclusive control over VCR distribution, Beta producers were reluctant to form such alliances and eventually lost ground to VHS in the competition for the global VCR market.Despite Beta’s substantial technological head start and the fact that VHS was neither technically better nor cheaper than Beta, developers of VHS quickly turned a slight early lead in sales into a dominant position. Strategic alignments with producers of prerecorded tapes reinforced the VHS advantage. The perception among consumers that prerecorded tapes were more available in VHS format further expanded VHS’s share of the market. By the end of the 1980’s, Beta was no longer in production.Q. According to the passage, today’s successful firms, unlike successful firms in the past, may earn the greatest profits bya)being the first to market a competing technology.b)adapting rapidly to a technological standard previously set by a competing firm.c)establishing technological leadership in order to shape product definitions in advance of competing firms.d)emphasizing the development of methods for the mass production and distribution of a new technology.Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Traditionally, the first firm to commercialize a new technology has benefited from the unique opportunity to shape product definitions, forcing followers to adapt to a standard or invest in an unproven alternative. Today, however, the largest payoffs may go to companies that lead in developing integrated approaches for successful mass production and distribution.Producers of the Beta format for videocassette recorders (VCR’s), for example, were first to develop the VCR commercially in 1975, but producers of the rival VHS (Video Home System) format proved to be more successful at forming strategic alliances with other producers and distributors to manufacture and market their VCR format. Seeking to maintain exclusive control over VCR distribution, Beta producers were reluctant to form such alliances and eventually lost ground to VHS in the competition for the global VCR market.Despite Beta’s substantial technological head start and the fact that VHS was neither technically better nor cheaper than Beta, developers of VHS quickly turned a slight early lead in sales into a dominant position. Strategic alignments with producers of prerecorded tapes reinforced the VHS advantage. The perception among consumers that prerecorded tapes were more available in VHS format further expanded VHS’s share of the market. By the end of the 1980’s, Beta was no longer in production.Q. According to the passage, today’s successful firms, unlike successful firms in the past, may earn the greatest profits bya)being the first to market a competing technology.b)adapting rapidly to a technological standard previously set by a competing firm.c)establishing technological leadership in order to shape product definitions in advance of competing firms.d)emphasizing the development of methods for the mass production and distribution of a new technology.Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CLAT tests.