COMPETITIVE CHANGES DURING INDUSTRY EVOLUTION
Industry lifecycle comprises four stages including fragmentation, growth, maturity and decline. An understanding of the industry lifecycle can help competing companies survive during periods of transition. Several variations of the lifecycle model have been developed to address the development and transition of products, market and industry. The models are similar but the number of stages and names of each may differ. Major models include those developed by Fox (1973), Wasson (1974), Anderson & Zeithaml (1984), and Hill & Jones (1998).
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