A phenomenon whereby a product or service gains additional value as more people use it.
instant messaging is a market with strong network effects
the network effect becomes a larger attractant than marketing as the business grows
Example sentencesExamples
Now, 5 million users later, the tiny device has become a huge asset - a classic case of a network effect.
Rather than wait for the network effect, be a catalyst and supporter of it.
A network effect occurs when my benefit from joining a network depends on how many others have joined the network.
That cohesion - a kind of network effect - is what makes the peer group, or team, much stronger than the simple sum of its parts.
With network effects, consumers and businesses may reap significant advantages that flow from the many consumers that utilize the same provider or platform.
A second challenge to health IT is that there is a negative network effect for early adopters.
Imagine the network effects that will occur when your industry gets networked and rebuilt and reinvented.
They have a network effect, in that they become more useful as more people use them.
Definition of network effect in US English:
network effect
noun
Economics
A phenomenon whereby a product or service gains additional value as more people use it.
instant messaging is a market with strong network effects
the network effect becomes a larger attractant than marketing as the business grows
Example sentencesExamples
With network effects, consumers and businesses may reap significant advantages that flow from the many consumers that utilize the same provider or platform.
Rather than wait for the network effect, be a catalyst and supporter of it.
That cohesion - a kind of network effect - is what makes the peer group, or team, much stronger than the simple sum of its parts.
A network effect occurs when my benefit from joining a network depends on how many others have joined the network.
They have a network effect, in that they become more useful as more people use them.
A second challenge to health IT is that there is a negative network effect for early adopters.
Now, 5 million users later, the tiny device has become a huge asset - a classic case of a network effect.
Imagine the network effects that will occur when your industry gets networked and rebuilt and reinvented.