Critically discuss why some technologies may become dominant in an industry even if they are not superior to the alternative

Network Effects (Network effects occur when the value of a product or service increases as more people use it. This creates a feedback loop where users are incentivized to adopt the dominant technology, further reinforcing its dominance) First-Mover Advantage (The first technology to gain widespread adoption; brand recognition, established user bases, and control over key resources or infrastructure.) Economies of Scale (lower costs per unit as production volumes increase; undercut) Regulatory Barriers (Regulatory capture can hinder innovation and competition in the market. Similarly, patents and intellectual property rights can be used to restrict access to key technologies, further entren) Consumer Behavior and Perception (Consumer preferences, habits, and perceptions can play a significant role in determining the dominance of technologies in an industry)