This thesis presents a typology of substitution patterns, conceptually quantifying core 'substitution attributes' and shows an empirical test result of the display industry in which CRT monitor is being substituted by TFT LCD monitor.
Nine substitution cases are analyzed. The analysis focused on necessary time periods to reach 20%, 50% and 80% substitution ratios, and changes in the growth ratio of old product and new product.
Twelve attributes of substitution are applied to analyze each case. Of the twelve, 'relative value' and 'industrial product characteristics' are selected as core attributes of substitution which had most affected the speed of substitution in the cases consistently. Using these two core attributes of Substitution, we suggest four substitution patterns, i.e., 'Fast Life Cycle Product', 'Intermediate Life Cycle Product', 'Slow Life Cycle Product' and 'Failure Life Cycle Product'.
An empirical test for the display industry verifies the usefulness of the substitution analysis framework developed in this research. A dynamic relative value and an industrial product index of TFT LCD monitor are quantified, and compared with those of CRT monitor.
According to the analysis, the TFT LCD monitor is expected to slowly substitute the CRT monitor in the beginning, but accelerate the substitution rate after 2000.
