Development is a process where products are created or improved to incorporate new technological advancements (Brockhoff, 15). The new products are meant to improve the livelihoods of the product or service users. In this case, the new development should be better than the existing one. It therefore takes a long time of research and incorporation of all necessary components to ensure that it achieves its goals. Development therefore leads to probable reduction of prices and increase in efficiency in the desired sectors.
Buy Impetus Essay essay paper online
The need for development is inevitable (Ganguly, 121). This is because there are many challenges that people face today. The increasing population and natural dynamics such as global warming would lead to a change in the way in which some issues are handled. This leads to the need for the people to come up with new services that would meet their needs, especially with the changing world. The recent technological development has led to the need for people to adopt more efficient gadgets (Robert, 34). For instance, Apple has to keep on developing new products, because there are many more companies that are looking to overtake them in the manufacturing of products like iPhones and iPads. Further, issues such as global warming have led to the need to develop products that would not be affected by this phenomenon. It is therefore indispensible to develop because there are more natural changes that the population must adopt through new products and services. This makes development an inevitable process.
The process of research and development is complex and vital for industries (Brockhoff, 78). This is because the increasing competition among companies has led to the need for embracing innovation especially in technology with an aim of improving quality and reducing the cost of production. Currently, there is need for industries to align themselves with the digital technology in order to ensure that there are more efficient services (Ganguly, 16). This eventually leads to increased competitiveness in price.
Research and development is driven by the changing business environment. Globalization, especially in the economic world, has brought the world together and the need to develop world class products and services has become mandatory to industries. People are willing to export and use better products that are manufactured outside their country rather than use home-made substandard products. People are able to explore products through Internet and the ease in electronic money transfer has resulted to intensified international trade (Robert, 122). With this global competition, no industry can comfortably claim to lead the market if they do not continue to develop better products that would keep them as leaders. Smaller companies are catching up and every company has to continue with research and development in order to keep its market segment.
Push strategy involves the product suppliers who try to deliver or ‘push’ their products to their customers who ask for or ‘pull’ it. In this case, the company that supplies the product determines what the needs of the clients are before creating the product and pushing it to the customers. At times, the customers may be comfortable with a product, but the manufacturer comes up with a refined format of the product. This would not be easily accepted and in this case, there develops a push vs. pull conflict (Robert, 266). Such conflicts are usually overcome through numerous advertisements and encouragement of the people to adopt the product. A perfect example is in technology field, where televisions, radio, print and online media are used to make the people aware of the new product (Martin, 44). Apple, Samsung and other iPad manufacturing companies have been in every media available to push their products to the public, where there has not been the pull factor. On the other hand, a good example of a good push and pull relationship is experienced in Australia’s Ford. The company would not manufacturer a car and introduce it to the customers through the expound marketing strategies. Rather, it waits for customers to ask for the vehicle, so that they start to manufacture.
Related Free Economics Essays
- Strategic Management Tool
- Housing Market Regression Analysis
- Deustche Braurei
- Total Quality Management (TQM)
- Tata Expansion into the United Kingdom
- Profitability and Financial Performance
- Strategic Plan: Cambridge Satchel Company
- Wal-Mart Report
- Business Model Comparison
- Economics of the United Kingdom
Most popular orders