Question

Provide an example of a new product or service. Discuss whether it is a new-to-the-world product or other type of new product, and how technology push and market pull research activities may play an important role in development of this new product.

Answer 1

We can take the example of the online classes for the given question. Recently a number of service providers have started to offer the online classes to the different students in which they can learn many concepts and academics related content through the internet or with the help of their smart [hoes, This is considered to be new to the world service as this type of service was not used earlier

Technology has really pushed this development as with the advent and spread of IT all over the world and the use of internet and smartphone have really supported the development of these types of services. The wide use of smartphone has also made it possible to develop an app that can facilitate the remote education

At the same time, there was also a need for these services as most of the people want to learn or have a higher degree but due to lack of time and their job-related activities, they were not able to attain the regular classes. This service can be used by these people as they can learn and discuss the topic anytime and from anywhere using these services.

Thus the customer pull also played a significant role in the development of this service.