In what industries would you expect to see particularly short technology cycles? What factors do you think cause short technology cycles for these particular industries?

Question

Donald Mayer

Social Studies

20 March, 20:18

In what industries would you expect to see particularly short technology cycles? What factors do you think cause short technology cycles for these particular industries?

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Answers (1)

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Jaylen Bradshaw · Answer 1

Answer: Electronics and pharmaceutical products.

Explanation:

The technology life-cycle (TLC) shows the costs and benefits of a product from its technological development to its market maturity and then decline. It explains the commercial advantage of a product during its life from the expense on the research and development to the financial return gotten from the product.

Technologies, such as paper, cement manufacturing or steel have a long lifespan while pharmaceutical products or electronic have a short lifespan.

Some factors responsible for the short technological lifespan in some industries are newer models, consumer preference and rapid prototyping. Consumers are tempted to get newer version of electronics rather than continue with their old ones even though they're still working.