From the evidence presented in Table 9.2, what conclusions can you draw regarding the factors that determine whether leaders or followers win out in the markets for new products?

The value created by an innovation is distributed among a number of different parties (Figure 9.2). ASPARTAME PERSONAL COMPUTERS SMARTPHONES Innovator Innovator Followers Customers Customers Suppliers Customers Followers Innovator Suppliers Followers Suppliers Complementors Complementors FIGURE 9.2 Appropriating of value: Who gets the benefits from innovation? Aspartame: Aspartame, the artificial sweetener, was discovered in 1965 by the drug company G. D. Searle & Co. (later acquired by Monsanto) and launched in 1981 as NutraSweet. The patent on aspartame expired in 1992, after which competition grew. However, Searle/Monsanto, successfully appropriated a major part of the value created. Personal computers: The innovatorsMITS, Tandy, Apple, and Xerox-earned modest profits from their innovation. The followers, IBM, Dell, Compaq, Acer, Toshiba, and a host of later entrantsdid somewhat better, but their returns were overshadowed by the huge profits earned by the suppliers to the industry, especially: Intel in microprocessors and Microsoft in operating systems. Complementors, notably the suppliers of applications software, also did well. However, intense price competition meant that the primary beneficiaries from the PC were consumers, who typically paid prices for their PCs that were a fraction of the value they derived. Smartphones: The first were the IBM Simon (1993) and the Nokia 9000 series (1996). Followers-notably RIM, Apple, and Samsung - have earned huge profits from smartphones. Several suppliers have also been big winners (e.g., microprocessor supplier, ARM); also complementors, notably app suppliers