Question

With respect to economics of production and consumption in a competitive market economy, why is redesign of ECE products a useful strategy? What are major options of redesign? Interpret the evolution of telephone handset from rotary dial phone to smartphone from the perspective of successive redesigns. What are the major technology cores supporting this series of redesigns? Explain the evolution of those technologies.

Answer 1

As the competition in tha market is increasing it becomes very important for the companies to bring changes in there products time to time.sp that the interest of the costumes on these products can reamin intact.By making redesigning in the products they can catch the eyes of the customers and hence it will be profitable business.

By taking an example we can understand how redesigning of products is really helpful. For eg let's take an example of a company which makes fans.now the company discovered that they are losing there customers day by day so they researched about it and conducted products teardowns of both Thier own and competitors products.by doing this a new design of product was made by them which was less expensive and .ore appealing to customers.

This option of redesigning came only after a proper research was made and the company worked on it .the threat of losing the identity of thire product came as a wake up call for them and they stepped up with greater capabilities and maintaining Thier products.

Please like my answer.