HIGHER PRODUCT DESIGN TECHNOLOGY PUSH MARKET PULL MARKETING

HIGHER PRODUCT DESIGN TECHNOLOGY PUSH / MARKET PULL MARKETING OR SELLING MARKET TYPES

Technology Push / Market Pull TECHNOLOGY PUSH n The introduction of new technology can aid the production of a new product. n The Designers / Manufacturers are ‘pushing’ the new product on to the market, telling the consumer that they want or need it. n Technology push can be the result of several things: – New materials / improved properties. – New methods of manufacture = better aesthetics, cost, environmental benefits. – Smaller components = miniaturisation – Improved technology = quicker, more powerful, more efficient.

Technology Push / Market Pull MARKET PULL n This is when the consumer demands from the designer / manufacturer. n The consumer is encouraging the designer / manufacturer to produce products that they want, ie ‘pulling’ the products towards the market. n Examples of consumer demand are: – more environmentally friendly products – fashionable products – up-to-date technology

Technology Push / Market Pull REVISION QUESTIONS n n Describe what is meant by the terms ‘Technology Push’ and ‘Market Pull’. Name two products that you feel have been designed as a result of each of these strategies.

Marketing or Selling n Marketing can often be confused with selling or advertising as these are the two visible components of Marketing, eg TV commercials, newspaper adverts, telephone sales and so on. Marketing involves so much more: n assessing customer needs n market research n developing products that provide superior value n offering consumer benefits n distributing n pricing n promoting

Marketing or Selling Designing products that offer benefits to the consumer and marketing them well are the keys to success. Not only do you have to come up with the new innovative product, you have to market it in a way that shows its benefits to the consumer, making them want to but it.

Market Types There are two types of market: n Buyers’ Market n Sellers’ Market BUYERS’ MARKET n The consumer has a choice of similar products because of companies in direct competition with each other. SELLERS’ MARKET n Companies disregard consumer wants and focus on only their production. n This will only be successful if there is little of no competition,

Marketing or Selling REVISION QUESTIONS n n n Describe what you think the differences are between marketing and selling. Explain what is meant by the term a ‘sellers’ market’. Visit www. bmweducation. co. uk to find out more about BMW’s marketing policy.