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Techtown, a maker of consumer electronics, had great success with its line of DVD players. Techtown was one of the first companies to enter the
Techtown, a maker of consumer electronics, had great success with its line of DVD players. Techtown was one of the first companies to enter the DVD market and sales and profits grew rapidly as customers adopted the technology. As competition entered the market, and profits began to decline, Techtown pre-loaded its DVD players with apps that could connect users to various services like Netflix, which consumers liked but was immediately copied by its competitors. Eventually, Techtown had to decrease the prices of its players in order to compete. Now, TVs come pre-loaded with the same apps that Techtown's DVD players have, and people are more likely to watch a movie from a digital subscription than from a DVD. In response to sagging profits, Techtown has recently developed a product that uses holographic projection technology. Most customers are unaware of this technology that can turn any flat surface into a touchscreen, so Techtown is currently engaging in informative promotion to promote its new product. What best describes the period when Techtown's DVD player profits rapidly grew and then began to decline?
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