Table 3.2: The Most Common Driving Forces 1. Changes in the long-term industry growth rate 2. Increasing globalization 3. Emerging new Internet capabilities and applications 4. Changes in who buys the product and how they use it 5. Product innovation 6. Technological change and manufacturing process innovation 7. Marketing innovation 8. Entry or exit of major firms 9. Diffusion of technical know-how across more companies and more countries 10. Changes in cost and efficiency 11. Growing buyer preferences for differentiated products instead of standardized commodity product (or for a more standardized product instead of strongly differentiated products) 12. Reductions in uncertainty and business risk 13. Regulatory influences and government policy changes 14. Changing societal concerns, attitudes, and lifestyles

 

Question: Factors that are causing major long-term industry change (driving forces).
Please identify the appropriate categories and provide an example from the case
for each category (Text Table 3.2). This section should discuss at least 3 driving
forces.