This section develops how markets for technology driven products and services are facilitated through the establishment of industry/consumer consensus on underlying technical specifications or standards which:

• Establish manufacturing objectives and expected consumer acceptance
• Lower risk to investors due to clearer market definition
• Create the possibility of lower unit cost due to increased market volume and competition
• Improved “fit” into any existing/legacy market(s)

At the completion of this section, the learner will understand:

• How standards and markets interact
• Inter-operational issues addressed by standards
• What happens when multiple standards support the same function
• How widespread acceptance affects the decision to adopt a standard

Begin the module with The Interface Between Standards and Markets.