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Executive Overview Major product innovations that create new industries are considered from the perspective of established firms for whom the innovation poses a substitution threat. Based upon a study of eight young industries and twenty-seven leading “threatened firms,” common patterns of industry development are considered, as are the participation strategies of those companies that decided to enter the new field. The challenges and pitfalls that were often encountered are examined and implications are developed for firms that choose to enter threatening young industries. While there are no assured success formulas, the discussion highlights some of the problems that can be encountered and suggests possibilities for avoiding them.
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Cooper et al. (1992) studied this question.
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