To put it simply, market pull is when product ideas are produced in response to market forces or customer needs. Essentially, when consumer demand forces the invention or development of a new product. An example of this is the development of cameras, which have become smaller, more lightweight, and higher performing as a result of customer needs.
Innovation funders are keen to fund innovation for market sectors exhibiting market pull tendencies as there is a greater likelihood of innovation adoption. This results from the market demand for a solution, combined with a readiness and willingness in adopting change by the customer.
Contrast the difference between the fever pitch at the release of a new Apple iPhone (Market Pull) vs consumer annoyance and avoidance of double-glazing salespeople (Market Push).
You’ll need to provide evidence in your grant application to present a strong argument for how your innovative idea provides a solution for an identifiable need. There is a surprising amount of free content available on the internet, use Google or another search engine to track down content for your specific sector.
Sources of evidence include:
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