Question

the value of its technology to buyers is multidimensional. The standalone value of its technology can include many factors besides just a technologies cost. What might be some of these factors? In increasing returns industries, the value of also be significantly affected by the technologies its external install base and availability of complementary goods. Explain this point using a company such as Apple, Google or some other technology based company.

Answer 1

Technology is the only advancement that we have in today's century. Day after day, it progresses slowly. The architecture of the system, not only the cost benefit that determines the element, but also how user-friendly it is, is the most important thing. With time flowing the demands of the customer, the technology that is there can meet the expectations. The product must reach the market only then the brand value can be built for the consumers. When we use Google as a case, for example. One of its Google Map products is widely used amongst the public.

It was only a map showing the locations, but people began to want more. So with time it made it to view the satellites and the street, the shops in the nearby sign can give you what you want. Now also, via Google Map, we can see in real time what is actually taking place is the most significant plus point of Google because Google has very well researched its users and figured out what they want. They gave one after the other functions before the use could tell their needs. Which took the mass audience to them and it was a success. Up to now, heavy use of Google Map. The answer to it is difficult to find.