Winning the Hardware Software Game Winning the Hardware-Software Game - 2nd Edition

Using Game Theory to Optimize the Pace of New Technology Adoption
  • How do you encourage speedier adoption of your product or service?
  • How do you increase the value your product or service creates for your customers?
  • How do you extract more of the value created by your product or service for yourself?

Read more...

Latest Comments

  • Anonymous said More
    Well written. Well constructed. Tuesday, 13 August 2019
  • Ron Giuntini said More
    As always a good read.
    I have always... Thursday, 25 January 2018

 

You’re hungry and ready to eat. What’s for lunch?

What you choose to eat depends on your environment, that is, the context in which your desire to eat occurs: Where you are, what’s available nearby, what you like to eat, how much money you have, how hungry you are, and so on.

Imagine the first guy who opened a restaurant. Without any competition, he didn’t have to offer a very large variety of food, nor even make it taste very good for that matter, to win people’s business. On the other hand, someone who opens an eatery today in San Francisco better offer a fantastic dining experience; otherwise her business will crash and burn. Not only must she offer fantastic food, but her eatery must be open whenever people want to eat; she must provide a clean and welcoming venue, offer fantastic service to diners, not to mention delivery for people who want to eat at home; and she must do all this while still maintaining reasonable prices.

In today’s world, competition for customers of most goods and services has become fierce, indeed. Over time, more information and better technology have enabled suppliers to better determine their customers’ needs and tailor goods and services provided to more completely meet those needs.

At this point, all the cheap and easy ways of satisfying customers are pretty much gone. To generate sales in today’s world, the degree to which suppliers must now meet customers’ needs – “table stakes” – has become formidable. Increasingly, success is determined by those factors that are more difficult to define and measure: intangibles and context. Differentiating oneself from the competition increasingly requires finding new ways to address intangible and dynamic (context-specific) customer needs.

Intangible Needs:

To attract good employees, employers must offer not only good pay, but also a job with a purpose that allows employees to make a difference.

To succeed, businesses must offer customers not only a good selection of products and services, but selections that have been tailored to meet customers’ particular preferences.

Context-Specific Needs:

To succeed, route navigation systems must tell customers not only how to get to where they want to go, but which route is fastest at the time the customers wants to travel.

To succeed, content providers must offer viewers not only compelling content, but content that’s available for consumption whenever and wherever consumers want to consume it. (For a more detailed examination of this issue, see my blogpost, “What Makes the Most Popular TED Talks So Popular?”)

Increasingly, intangibles and context matter.

More Blogs

Hurdles to Mainstream Adoption of Medical Cannabis

21-09-2019 - Hits:16 - Ruth Fisher - avatar Ruth Fisher

Based on the incentives facing different players in the US medical cannabis market, I believe the market will not achieve mainstream adoption unless or until the US overcomes several hurdles: (i) the classification of cannabis as a Schedule I drug, (ii) cannabis’s lack of FDA approval, (iii) the lack of...

Read more

Attracting Mainstream Consumers to Medical Cannabis

19-09-2019 - Hits:28 - Ruth Fisher - avatar Ruth Fisher

The US medical cannabis market is currently in its early stages of adoption: the market has gained some penetration, but not enough to warrant adoption by the early majority, that is, more mainstream users. My book, Winning the Hardware-Software Game, describes the technology adoption lifecycle in detail. A brief summary...

Read more

Being Healthy Shouldn’t Be This Hard

31-08-2019 - Hits:199 - Ruth Fisher - avatar Ruth Fisher

In 2018, Americans spent $3.67 Trillion on healthcare, amounting to 19.5% of GDP, up from 5.2% of GDP in 1960. It might not be such a bitter pill if Americans were becoming correspondingly healthier over time. But we’re not. Everyone knows that despite our hefty increases in spending over the...

Read more

Intangibles and Context Will Increasingly Differentiate Winners from Losers

30-08-2019 - Hits:73 - Ruth Fisher - avatar Ruth Fisher

  You’re hungry and ready to eat. What’s for lunch? What you choose to eat depends on your environment, that is, the context in which your desire to eat occurs: Where you are, what’s available nearby, what you like to eat, how much money you have, how hungry you are, and so...

Read more

Theory vs. Reality

15-08-2019 - Hits:157 - Ruth Fisher - avatar Ruth Fisher

What’s the difference between theory and reality? In theory, nothing… Unfortunately, in the real world, what start out as great ideas in theory often end up being implemented in ways that lead to not-so-great outcomes in practice. I remember sitting in a grad school class, The Economics of Regulation, when I was introduced...

Read more

Best Practices in Medicine Should Rely on Providers' Knowledge, Skills and Exper…

13-08-2019 - Hits:164 - Ruth Fisher - avatar Ruth Fisher

In 2005, a physician-scientist research pioneer, John Ioannides, published what has come to be a widely circulated paper, “Why Most Published Research Findings Are False.” The replication crisis we’re having in science embodies the concern voiced by Mr. Ioannides. Yet, despite much evidence that so many studies are not valid...

Read more

Actions without Consequences Are Causing Our Healthcare Crisis

02-07-2019 - Hits:399 - Ruth Fisher - avatar Ruth Fisher

Actions Have Consequences I often turned to my father for advice. I would ask him, “What’s the right decision to make?” And he would invariably reply, “There’s no right or wrong. There are only consequences.” By taking the morality out of the equation, my father forced me to focus not on the...

Read more

Cash-Based Models for Healthcare

16-06-2019 - Hits:523 - Ruth Fisher - avatar Ruth Fisher

The configuration of our current healthcare system is a product of its history: It has evolved into its current form as a consequence of two primary sets of factors. First, the healthcare system has evolved into its current form due to historical laws and regulations that have generally catered to...

Read more