Market Opportunity Identification: Push or Pull?
Entrepreneurship begins with an idea that upon reflection appears to be a valuable opportunity.
New opportunities emerge because customers’ needs change or new technologies lead to new ways of accomplishing tasks.
There are two types of opportunities:
- Capability Push: the opportunity flows from a capability or resource availability
- Opportunity Pull: the opportunity emerges from a need or problem that cries out for a solution
Applied in: Consumer electronics (Television), Medical and Health sector (HDTV Endoscopy)
|Need: Controlled drug delivery
Technology: Transdermal Patch Technology
|Technology: Carbon fiber reinforced plastic
Applied in: Sailboats, Aerospace, Sports gear
|Need: Solution for positional sleep apnea
Technology: The Sleep Position Trainer: a small, flat sensor which is cleverly programmed
- Technology ventures: From idea to enterprise, McGraw Hill, Thomas H.Byers, Richard C.Dorf, Andrew J.Nelson
- Lecture “Smarter Faster Entrepreneurship, Improved Value Creation through more Systematic Opportunity Identification Processes“, Prof. Dr. Marc Gruber, Chair of Entrepreneurship and Technology Commercialization, Ecole Polytechnique Fédérale de Lausanne
- Developing New Business Ideas, Prentice Hall The financial Times, Andrew Bragg, Mary Bragg