Friday, May 17, 2019

A Paper on the Market Pull and Technology Push Factors

UNIVERSITY OF TECHNOLOGY Faculty of air & Management School of Business Administration Management of entry Technology CASE 2 Innovation at 3M Name Ronald McLeod (0908851) Tutor Mr. S. Whittle 3M Corporation takes pride in being a finish of innovation. I impart be reporting on just one of 3Ms many advanced(a) products the post-it shades. I will also highlight the market bow out and engineering science push factors that were considered in exploitation the innovation. The key terms to be identified in this report are innovation, applied science push, and market pull.Innovation refers twain to the output and the process of arriving at a technically feasible solution to a problem triggered by a technological opportunity or customer need. Technology push describes a situation where an acclivitous technology or a new combination of existing technologies provide the driving force for an advanced(a) product and problem solution in the market place. Market pull is the advancement of technology point primarily toward a limited market need. Post-it strike outs are pieces of stationery with a re-usable viscous strip on the back, designed for temporarily attaching notes to documents and other surfaces.The release of post-it notes in 1980 in the United States was one that was not provided innovative for its fourth dimension but one which captured the needs of consumers in a whole new way. Post-it note became a big success for 3M and was adored by customers. The first and probably most important technology push that resulted in post-it notes is senior scientist Spencer Silvers 1968 discovery of an adhesive that didnt act handle any others. Instead of forming a film, it is a clear, reusable and pressure-sensitive adhesive. For five years, Silver promoted his invention within 3M, both(prenominal) informally and through seminars, but without much success.In 1974 Art fry perceived the idea of diligence the adhesive on paper. He soon realized that this technol ogy would serve swell as a note pad. 3M conducted a direct-mail program to the secretaries of CEOs of Fortune 100 companies, and got back letters from CEOs of companies such as Chrysler and Phillip Morris telling them how much they loved this product (Post-it notes) and asking how they could get more. This was a major market pull factor as 3M now realized that this advancement in technology would satisfy a specific market need. Fry encountered serious technical problems very early.First, there was the problem of getting the adhesive to breathe in place on the note instead of transferring to other surfaces. The company didnt have coating equipment that could be precise on an imprecise backing such as paper. This resulted in further technology push as advances in the technical performance of 3M allowed for the post-it notes adhesive to be perfected as well as a manufacturing process was developed. Fry made sure that secretaries of 3M senior executives got them. Before long, their bo sses were borrowing the precise yellow pads. This Market pull factor illustrated the need for this innovation in the business place.In 1978 samples of numerous post-it was effrontery out in the city of Boise. 3M discovered that more than 90 percent of the people who tried them would profane them. This market pull factor showed the general market need for this product. After success in Boise, 3M was persuade that the market potential for the yellow note was enormous and, in 1980, post-it notes were introduced nationally. The Managerial Implications * Technical and Market considerations * How to cause new innovations * Time consumption * How to protect innovation from competitors. Recommendations Managers mustiness take into account during problem solution within a firm, the technical and market factors in order to achieve successful management of technology. * Managers must invest time and money in research and development and other efforts to not only set about improvements to commercialized technologies but to continuously endeavor to come out with new technologies/innovations. * Managers must respond to time consumption and shorten the time it takes them to design, develop and put new innovations on the market. They must decide when to innovate, update, or replace previous technology .They must also develop methods to cope with shorter product life cycles. This back be done through continuous improvement. * Managers must protect new innovations from competitors through the use of patents, trademarks, copyrights, and designs. This will also result in higher profitability for the organization. Conclusion The development of post-it notes was driven both by technological push and market pull factors. These factors resulted in the recognition of a potential problem, decision of which technologies to use, a feasible solution to the problem, and the final commercialization of the innovation.Managers must learn to cope with the implications that will face t hem. References http//www. innovation. lv/ino2/publications/leonardo_manual/en/www. innosupport. net/webhelp/wso/ind http//multimedia. 3m. com/mws/mediawebserver? 77777XxamfIVO&Wwo_Pw5_W7HYxTHfxajYv7HYv7H777777 ex. emailprotected_id4240pl_id3558. htm http//www. tu-harburg. de/tim/downloads/arbeitspapiere/Working_Paper_5. pdf http//en. wikipedia. org/wiki/Post-it_note http//www. 3m. com/us/about3M/innovation/archive. html

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