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ICC Advance Access published online on August 26, 2005
Industrial and Corporate Change, doi:10.1093/icc/dth069
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© The Author 2005. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved.

Article

Heterogeneous preferences and new innovation cycles in mature industries: the amateur camera industry 1955-1974

Paul Windrum 1*

1 Department of Strategy and Entrepreneurship, Manchester Metropolitan University Business School, Aytoun Street, Manchester M1 3GH, UK; MERIT, University of Maastricht, Tongersestraat 49, P.O. Box 616, 6200 MD, Maastricht, The Netherlands

* To whom correspondence should be addressed.
Paul Windrum, E-mail: p.windrum{at}mmu.ac.uk


  Abstract

This paper examines the amateur camera industry between 1955 and 1974. The case raises important issues for our understanding of the product lifecycle. First, an industry can experience more than one round of radical product and process innovation in its history. Second, there is not a strict sequence of product innovation followed by process innovation. Third, the existence of a dominant design depends on there being a relatively homogeneous set of consumers. Heterogeneous consumer preferences support different camera designs in two distinct market niches in the amateur camera industry. Fourth, new rounds of entry and exit, and new industry shake-outs can occur, with new, innovative entrants displacing old firms. Fifth, when the new firms are from developing countries, a shift in global production occurs. The success of new Japanese entrants in this period lay in their being more successful innovators, not in their exploiting wage/cost advantages.


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