What strategies or design principles might entrepreneurs use to develop a product/solution to avoid the three types of relative obsolescence?
Design Principles:
Modular design for upgradability
Quality materials for durability
Timeless aesthetic choices
Repairable construction
Future-compatible interfaces
Sustainable materials
How does relative obsolescence differ from absolute obsolescence?
Relative Obsolescence:
Product still functions but perceived as outdated
Driven by comparison to newer alternatives
Often planned/designed
Absolute Obsolescence:
Product physically fails/breaks
Natural wear and tear
Technical failure
Provide an example of how product service systems can dematerialize consumption? What are the rebound effects?
Example: Car sharing services
Reduces individual car ownership
Optimizes vehicle utilization
Shared maintenance responsibility
Rebound Effects:
Increased accessibility leads to more usage
Lower costs encourage more consumption
Behavioral changes offset savings
Describe the process of Segmentation, Targeting and Positioning and how it is utilized?
STP Process:
Segmentation: Divide market by demographics, behaviors, needs
Targeting: Select profitable segments to serve
Positioning: Create distinct value proposition
Implementation through marketing mix
Describe impact investing and provide an example.
Impact Investing:
Investments seeking financial returns and positive social/environmental impact
Measurable impact goals
Market-rate returns possible
Example: Investment in renewable energy company combining profit with carbon reduction
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