Meeting Consumer Needs
Technology Push - Market PullTechnology Push
This is where advancements in technology are developed into usable products and then 'pushed' onto the market. For example the development of mobile communication technology made it possible for mobile phones to be designed. The development of solar panels has enabled people to generate their own electricity.
Technology Push - Market PullTechnology Push
This is where advancements in technology are developed into usable products and then 'pushed' onto the market. For example the development of mobile communication technology made it possible for mobile phones to be designed. The development of solar panels has enabled people to generate their own electricity.
Market Pull
This is where the need for a new product comes from society or 'the market', This can be in the form of new products or improved products. MArket reserach is often used to find out what people want or need. This helps manufacturers improve their products so that they can:
- Sell to new customers so they have more of the market share
- Make people more loyal to the brand
- Persuade customers to choose their brand over alternative brand and products
This is where the need for a new product comes from society or 'the market', This can be in the form of new products or improved products. MArket reserach is often used to find out what people want or need. This helps manufacturers improve their products so that they can:
- Sell to new customers so they have more of the market share
- Make people more loyal to the brand
- Persuade customers to choose their brand over alternative brand and products
TASK: Mind map as many products as you can and decide if they are Technology Push or Market Pull.
Obsolescence
Some companies 'build in' or 'plan' obsolescence so that customers have to buy again, These products are usually cheap and need to be replaced after use e.g.:
- Disposable camera
- Biro
They are designed to last a short time and are often made from non-renewable materials.
Obsolescence can also be due to improved products with better features or even as a result of changes in fashion. Mobile phones again are often become obsolete after 12-18 months as newer better ones with more features come onto the market. Why would you stop using a perfectly good phone????
Some companies 'build in' or 'plan' obsolescence so that customers have to buy again, These products are usually cheap and need to be replaced after use e.g.:
- Disposable camera
- Biro
They are designed to last a short time and are often made from non-renewable materials.
Obsolescence can also be due to improved products with better features or even as a result of changes in fashion. Mobile phones again are often become obsolete after 12-18 months as newer better ones with more features come onto the market. Why would you stop using a perfectly good phone????