Wednesday, 17 April 2013

What is Technology Push or Market Pull?

'Technology push' is when the technology has been developed but the need must be created. Developing a new market.  Sometimes this is by a creative individual who has the knowledge and imagination to realise its significance and the practical skills to transform the idea or discovery into an invention.    
'Market pull' is when a business has a need for a product and technology develops to fill that need, defining a market. The stimulus for innovation comes from the needs of society or a particular section of the market.

 Both 'push' and 'pull' scenarios contribute toward the innovative use of technology

Sometimes a designer will design a new or improved product just because they believe that the very existence of the product will create market pull. Designs like this may either succeed or fail, depending on consumer demand, how innovative the product is, and the state of the market at the time.

An example of 'Technology push' include the first Sony walkman which was created because the chairman of Sony got tired of travelling with the companies existing portable stereo because of its weight. Sony embarked on an aggressive marketing plan by targeting teenagers hoping that the walkman would become associated with youth and leisure activities. Their marketing plan was successful.


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