Evolutionary Product Differentiation And Market Creation In Turbulent Economic Environments

Morris Teubal and Ehud Zuscovitch

Economics of Innovation and New Technology, 1997, vol. 4, issue 4, 265-286

Abstract: The assumption of given consumer tastes and production, loses ground very rapidly in information-intensive economic systems, where the ability to design products and services combinations for increasingly specific needs and skills is a key variable to competition. This article presents a search-oriented conceptual framework and proposes a schematic representation of endogenous product differentiation. The evolution of users' and producers' discriminating capabilities is shown to govern their interaction leading to product definition. Patterns of sub-market creation or standardization provide a central building block to market creation analysis.

Keywords: Information-intensive production; search activities; discriminating capabilities; user-producer interaction; evolutionary product differentiation; market creation; J.E.L. Classification: O3 (search for similar items in EconPapers)
Date: 1997
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Citations: View citations in EconPapers (3)

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DOI: 10.1080/10438599700000001

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