obsolescence

(redirected from Obselete)
Also found in: Dictionary, Thesaurus, Medical, Encyclopedia.
Related to Obselete: obsolescence, absolute

Obsolescence

The circumstance in which a good or service is no longer desired, especially when a new, better good or service becomes available. For example, relatively few people use VHS tapes because DVDs are both more convenient and are higher quality. VHS tapes, then, have undergone obsolescence. Some companies deliberately render their products obsolete because it makes customers more likely to come back and buy new products. See also: Planned obsolescence.

obsolescence

  1. the tendency for products to become outmoded and to reach the end of their effective PRODUCT LIFE CYCLE. Obsolescence may be due to changes in style, fashion, materials used and the functions performed. With rapidly advancing technology and more fickle public tastes, product life cycles are tending to shorten as new, more sophisticated products supersede established products. Firms may respond by frequently updating their existing products in order to lengthen their life cycle. Alternatively, firms may deliberately follow a strategy of ‘planned obsolescence’ by bringing out a continuous stream of new products both to establish COMPETITIVE ADVANTAGE over rival suppliers, and to increase their total sales by inducing customers to replace products more frequently.

    See NEW-PRODUCT DEVELOPMENT, FASHION PRODUCT, PRODUCT STRATEGY.

  2. the reduction in the value of a FIXED ASSET because of a significant change in demand or technology which renders the asset out of date, or comparatively inefficient.

    Renting or LEASING plant, machinery and equipment avoids the risk of obsolescence, since at the end of the rental or lease period a firm may rent or lease a more modern fixed asset.

obsolescence

A loss in value of an improvement because something makes it undesirable or no longer useful,even though it might be structurally sound.

• Functional obsolescence occurs because of factors within a property, such as a poor floor plan or lack of modern amenities. A three-bedroom, one-bathroom house with a one-car garage would generally be considered as suffering from functional obsolescence.

• Economic obsolescence, also called environmental obsolescence and external obsolescence, occurs because of factors outside a property. Examples include construction of an airport near a residential area or a change in highway access leaving a retail area stranded.

References in periodicals archive ?
Initially I was involved with the now obselete Under-23 side and its successor, the Under 21s - both those teams contained some of the best players ever to pull on the dark-blue jersey.
It was founded as one of a chain of villages between the twelfth and fourteenth centuries and was abandoned in the nineteenth, when its role as a link between the coast and the Piedmontese hinterland became obselete.
As time goes on, each manager will often require different reports and existing reports will become obselete.
B) Maintaining existing units (2 separate productions) of the costings provided to local standards, rehabilitation of defective material and hardware with state of obselete hirachisation priorities in terms of investment and proposed an optimization operation policy.
uk ANYONE saving up for the obselete but attractive Nokia 8890 might be disappointed to learn this is its successor.
Needless to say, that computer was already obselete.
A MINIATURE presentation device makes the need to lug a computer around obselete.