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In the Early 1900s,a New Product Was Developed-The Phonograph Record

question 15

Multiple Choice

In the early 1900s,a new product was developed-the phonograph record.It allowed people to listen to and appreciate recorded music in the privacy of their homes.At first,consumers were reluctant because the idea was so novel and difficult to comprehend.During the 1930s,the pioneers in the record industry were experiencing strong sales and profits.As a result,other firms began to enter the market and competition intensified.At this point,there were hundreds of record producers and manufacturers.During the 1940s and 1950s,sales continued to increase,but at a much slower rate.The market stayed at approximately the same level until the late 1960s when a new technology arrived in the form of the eight-track tape.The record market began a slow decrease in sales.By the 1970s,another new technology,cassette tapes,replaced the eight-track tape.During the 1970s and 1980s,record production continued to decrease.In the late 1980s,sales dropped rapidly as yet another new technology arrived,the compact disc.Digital downloading of songs from online stores like iTunes has become the norm.Today,most stores no longer carry records,which have become a niche product.
-Refer to Music Industry.The phonograph record industry is currently in what stage of the product life cycle?

Definitions:

Chain of Command

The formal line of authority within an organization that dictates how instructions and decisions flow from top-level management to lower levels.

Communication

The exchange of information or ideas between individuals or groups.

Informal Communication

The exchange of information, ideas, or feelings in an unofficial, casual manner, not based on company or organizational structure.

Chain of Command

The formal line of authority and communication within an organization, determining how instructions and decisions flow.