Assignment 3: EEE452 Name: Safwan Hossain ID: 1610027042 Section: 8

Summer 2019

Question 1: How certain are customer preferences?

Answer 1: Customer preferences are expectations, likes, dislikes, motivations that drives
customer’s purchasing decisions. They complement customer needs in explaining customer
behavior. In our country till now there is not that much priority for using VR gears to attend the
classes. Many of us even don’t have any idea about VR gears, mainly in rural areas. But we are
hoping that soon it will be the one.

Question 2: How much improvement does the innovation provide over previous solutions?

Answer 2: Innovation provides a great improvement over previous solutions. If VR gears are
provided to the students obviously this innovation will become an important or significant
solution for many of the problems people are facing now. Nowadays students need to be
present physically in the classes. So, that time anyone will be able to attend or join the classes
even without being present in the class.

Question 3: Does the innovation require enabling technologies and are these technologies
sufficiently mature?

Answer 3: Any kind of innovation requires enabling technologies. Without technologies any
innovation will not work or will not spread out. In the basis of our country these technologies are
not sufficiently mature. That’s why many people are not even known to these innovations. So,
the main point is innovation requires enabling technologies.

Question 4: Do complementary goods influence the value of the innovation and are they
sufficiently available?

Answer 4: Complementary goods are mainly a pair of goods consumed together. As new
technologies lowers the price of cultural consumptions. Shifting market equilibrium to higher
demand and markets for complementary goods will also affect itself. Complementary goods of
VR gears are actually not sufficiently available now if it will then the popularity of VR may go up.

Question 5: How high is the threat of competitive entry?

Answer 5: The threat of competitive entry is really high. If any company or industry or new
innovations or any new technologies will come to the market it will highly compete with the old
ones. If VR gears are introduced completely it will be a great threat for the technologies we are
using now such as projectors, etc.