19-7 Rate of Technological Change The rate of change determines the length of the product life cycle demand curve o The computer industry life cycle is about 1 8 months: in the steel industry it is many years Fads and fashions also impact the life cycle duration Style changes alter the demand for goods Usually, goods subject to fads and fashion changes will experience shorter life cycles In general, life cycles are getting shorter, forcing managers to be more responsive to customers " win/MeGraw-HHill CThe McGraw-Hill Companies, Inc, 200019-7 Irwin/McGraw-Hill ©The McGraw-Hill Companies, Inc., 2000 Rate of Technological Change ◼ The rate of change determines the length of the product life cycle demand curve. ◆The computer industry, life cycle is about 18 months; in the steel industry, it is many years. ◼ Fads and fashions also impact the life cycle duration. ◆Style changes alter the demand for goods. ◆Usually, goods subject to fads and fashion changes will experience shorter life cycles. ◼ In general, life cycles are getting shorter, forcing managers to be more responsive to customers