FEATURES OF ANEMERGING INDUSTRY
FEATURES OF ANEMERGING INDUSTRY
- No “rules of the game”
- Technological know-how is proprietary
- Entry barriers tend to be low
- Experience curve effects often permit significant cost reductions as volume builds
- Marketing task involves inducing initial purchase & overcoming customer concerns
- Difficulties in securing raw materials
- Firms run short of funds for R&D & start-up