7. public interaction

Technology push

Products that have been developed without considering customer needs using technology

Market pull

Products come around as a result of identify market needs and undertaking development work necessary to fulfil those needs

Radical improvements

Completely new ideas

incremental improvements

Small improvements

Customer needs

something we cannot do without

Customer wants

Something we’d like or asked for

Primary research

First hand, direct data

Secondary research

Second hand, existing data

market trends

Patterns what people buy

Niche market

Small specific customer base

Intro stage

Low sales

Growth stage

Increasing sales

Maturity stage

Peak sales

Decline stage

Falling sales

4 Ps of marketing

Product

Price

Place

Promotion

Product diffusion

Process by which a new product spread through a market and is adopted by consumers over time