New cycles of innovation in a mature industry: the camera industry

Paul Windrum ()

No 27, Research Memorandum from Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT)

Abstract: The paper examines the dynamics of the amateur camera market – a mature industry - in the period 1955-1974. The case study raises a number of important issues for innovation management in mature industries characterised by heterogeneous preferences and heterogeneous product designs. First, it is possible for radically new product designs to be introduced in mature industries. These can lead to a further bifurcation of the industry into an increasing number of market niches. Second, this provides an opportunity for new entrants to overcome the first mover advantages of dominant firms, and, indeed, displace these dominant firms. Third, incremental innovations that are introduced across the alternative new product designs may be adopted by some user groups but not by others. This can turn conventional managerial strategy on its head, with incremental product innovations first being adopted in low-priced, rather than high-priced, goods.

Keywords: industrial organization (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:unm:umamer:2003027

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