Fast-cycle markets are characterized by "generational products," which start out with a substantial technological advance in the performance of a product category followed by incremental technological advances as new generations of products are introduced.

Question

Quizplus · Accepted Answer

Fast-cycle markets are indeed characterized by generational products, which start out with a significant technological advance in the performance of a product category followed by incremental technological advances as new generations of products are introduced. This cycle tends to be much faster in industries such as technology and consumer electronics, where innovation and competition are high.

Fast-Cycle Markets Are Characterized by "Generational Products," Which Start Out