Question

In an attempt to eliminate spectacles from the market, Lensamt, a company that manufactures and supplies contact lenses, launched an advertising campaign to popularize its products. To counter this and stay in the market, the spectacle manufacturers introduced new offers and discounts on spectacles. In the context of innovation streams, which of the following concepts does this scenario best illustrate?
A) Design competition
B) Technological lockout
C) Technological substitution
D) Design iteration

Answer 1

Answer:

A) Design competition

Explanation:

Contact lens manufacturers and manufacturers of regular glasses (spectacles) compete against each other because their products basically satisfy the same needs, they help people see things better. Each one offers a very different product with its pros and cons, but even though their products are so different, they can be considered substitutes.

In the concept of innovation streams, Lansamt is the innovator that is trying to create a sustainable competitive advantage because it works designed an innovative product while its competitors rely on updating old designs.

Answer 2

Answer:

A. Design competition

Explanation:

Lensamt (manufacturers and suppliers of contact lenses) and spectacles manufacturers are in a design competition as both products serving almost the same purpose are competing to keep their target markets.