1. Under what circumstances might a market-pull approach or a technology-push approach to a new-product design be the best approach?
The technology push approach to new product design stems from the idea that the innovation process starts with a discovery, or a new idea that has been invented by a creative person who has the imagination, knowledge, initiative, and creativity to realize the product's significance and the practical skills that has made the transformation of the idea into an invention. The Cockerell and his hovercraft is an example of technology push. Usually, these inventors don't realize and foresee the commercial applications of their invention but they started it because an idea came up and they see the value of it and its use to improve the way of living of the people. Nowadays, the starting point of technology push is the basic scientific research or applied research and what is commonly called now as the research and development or R&D in organizations. These new products designed out of technology push are then manufactured effectively, economically, and lastly, sold to the market.
Most big companies have invested in R&D in which the members assume that it has sufficient knowledge of the users' needs for them to develop a new product without involving them in its design or specification. What they do is they develop the product and when the technology is complete and ready; they present and promote it in the market. With technology push approach, innovation is what it's all about and ...
The solution discusses the circumstances when a market-pull approach or a technology-push approach will be the better approach to use. References are included.