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This Element provides an understanding of the broad factors that impact upon the success or failure of bringing a new technology-based idea to market. Such factors include the ways in which new technologies evolve, how the design of products based upon new technologies tend to pass through a series of stages before a 'dominant design' emerges, and the ways in which some technologies radically change markets whereas others make only small, but successful, improvements to existing markets.

Learning outcomes

After completing this element you should:

• Recognise the paths along which technologies evolve
• Understand how some technologies can revolutionise markets, whereas others make only incremental improvements, but both can deliver commercial success
• Appreciate how dominant designs emerge when new technologies are brought to market - and how success in the market depends upon managing the selection of this design by most customers
• Understand the importance of linking technology evolution and business strategy issues to inform decision making in your business

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