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Economists use the term "bandwagon effect" to describe the benefit a consumer enjoys as a result of others’ using the same product or service. The history of videocassettes offers a striking example of the power of bandwagon effects. Originally there were two technical standards for videocassettes in the United States: Beta and VHS. Beta was widely regarded to have better picture quality, but VHS could record longer television programs. Eventually the selection of Beta cassettes shrank to zero, leaving consumers no choice but to get on the VHS bandwagon. The most successful bandwagon, apart from telephone service, is the Internet. In this book Jeffrey Rohlfs shows how the dynamics of bandwagons differ from those of conventional products and services. They are difficult to get started and often fail before getting under way. A classic example of a marketing failure is the Picturephone, introduced by the Bell System in the early 1970s. Rohlfs describes the fierce battles waged by competitors when new services are introduced, as well as cases of early agreement on a single technical standard, as with CDs and CD players. He also discusses the debate among economists and policy analysts over the advantages and disadvantages of having governments set technical standards. The case studies include fax machines, telephones, CD players, VCRs, personal computers, television, and the Internet.
About the Author
Jeffrey H. Rohlfs is a Principal at Strategic Policy Research in Bethesda, Maryland.
Economists use the term "bandwagon effect" to describe the benefit a consumer enjoys as a result of others’ using the same product or service. The history of videocassettes offers a striking example of the power of bandwagon effects. Originally there were two technical standards for videocassettes in the United States: Beta and VHS. Beta was widely regarded to have better picture quality, but VHS could record longer television programs. Eventually the selection of Beta cassettes shrank to zero, leaving consumers no choice but to get on the VHS bandwagon. The most successful bandwagon, apart from telephone service, is the Internet. In this book Jeffrey Rohlfs shows how the dynamics of bandwagons differ from those of conventional products and services. They are difficult to get started and often fail before getting under way. A classic example of a marketing failure is the Picturephone, introduced by the Bell System in the early 1970s. Rohlfs describes the fierce battles waged by competitors when new services are introduced, as well as cases of early agreement on a single technical standard, as with CDs and CD players. He also discusses the debate among economists and policy analysts over the advantages and disadvantages of having governments set technical standards. The case studies include fax machines, telephones, CD players, VCRs, personal computers, television, and the Internet.
About the Author
Jeffrey H. Rohlfs is a Principal at Strategic Policy Research in Bethesda, Maryland.
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Inside This Book
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First Sentence:
Young musicians are unlikely to ride on a literal bandwagon, but they nevertheless learn about bandwagon effects at an early age. Read the first page Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, Bell System, Metcalfe's Law, Microsoft Windows, Western Union, New York, Supreme Court, Polygram Records, Alexander Graham Bell, Bill Gates, World War New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Young musicians are unlikely to ride on a literal bandwagon, but they nevertheless learn about bandwagon effects at an early age. Read the first page Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, Bell System, Metcalfe's Law, Microsoft Windows, Western Union, New York, Supreme Court, Polygram Records, Alexander Graham Bell, Bill Gates, World War New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 18
books:
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1
book
cites this book:
- Handbook of Industrial Organization Volume 1 (Handbooks in Economics 10) by Richard Schmalensee in Back Matter (1), Back Matter (2), and Back Matter (3)
- Industry Analysis by Brigham University in Back Matter
- A United Kingdom by David Owen in Back Matter
- Internet Economics by Lee W. McKnight in Back Matter
- Political Economy of Fairness by Edward E. Zajac in Back Matter
See all 18 books this book cites
- The Antitrust Revolution: Economics, Competition, and Policy by John E. Kwoka Jr. on page 426
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