Sample Essay

There are two types of models in innovation. Both are traditionally linear models. The first one of both is Technological Push and the second is Market Pull. Technological push is the research based method of converting innovative ideas into marketable products that can generate revenue for the company. This involves the development personnel to develop a prototype as the sample of the actual project which in turn convinces the investors and business to take a risky step in further investing to produce the prototype on a mass production level. Technological push is the kind of model that put in a new product without the finding of the market.

Risk factor is involved in it on a higher level since the product is new and is considered to be in an undemanding nature. The buyers of such products are likely to be those who are well aware of the facts before hand. Large buying power can be unpredictable in the case (Rothwell, 1994).

Another type of innovation is called Market Pull. The ideas of producing a product are generated through the analysis and identification of a gap in the market. Research and surveys organized and financed by large production companies are held for a certain period of time in order to identify the ‘gap’ in the market. That is, a requirement from the customer prior to its production.

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