Adoption of any new process technology demands depth analysis of market trends through a variety of social surveys and monitoring of current and potential competitors.
The Main Factors
- The current market situation: what production are in demand, and what are not;
- The measure of resource availability. It is a key factor. Without enough quantity of resources any technological innovations are impossible;
- Product superiority over its direct competitors, like the presence of his distinguishing features that promoting better acceptance by consumers;
- Marketing know-how of the company. Better understanding of the market, consumer behavior, the adoption rate of new technologies;
- The exact formulation of the concept: a list of specific tasks, the selection of the target market, a set of properties and product positioning;
- The role of the time factor: rapid arrival on the market it is a source of competitive advantage, but this must be achieved without compromising the quality of performance;
- Monitoring the progress of development: monitoring of the development plan on every step is an essential factor for success;
- Use of synergies: realize strengths, using technological or commercial synergies;
- A structured plan of development: the transition from the planned position to the plan operational marketing in terms of price, distribution and communication;
- Management support: instead of direct intervention need special support structure innovation, resources and the right vision of processing;
Let us give a few examples. The IBM-company refused to large and expensive computing machines in the 80th in favor of a much smaller and portable personal computers that completely conquered the market of computers today.
On the other hand the bankruptcy of “East Coast Railway”, and similar companies. They bet on the improvement and development of rail transport, while the future is objectively belonged to air transport. The most important things are forecasting and analysis.