Boardburgh, a Cordless Telephone Manufacturer, Launched Advertising Campaigns to Market

question 4

Multiple Choice

Boardburgh, a cordless telephone manufacturer, launched advertising campaigns to market its products and eliminate wired telephone sets from the market. To counter this, Telepram Inc., a wired telephone manufacturer, has launched an advertising campaign to detail the disadvantages of cordless telephones. In the context of innovation streams, which of the following concepts does this scenario best illustrate?

• A) Design competition
• B) Technological lockout
• C) Technological substitution
• D) Design iteration

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Definitions:

Factor Costs

The expenses associated with utilizing the factors of production, including labor, capital, and land, to produce goods or services.

Price of the Good

The amount of money required to purchase a specific product or service.

Suppliers' Expectations

The anticipations or forecasts of future conditions by suppliers that can influence their decisions on production, pricing, and stock levels.

Surplus

The amount of a commodity or service available beyond what is directly needed by its consumers, often leading to lower prices.