What does Technology Push refer to?

Technology Push refers to the phenomenon where advancements in technology lead to the development of new products or improvements to existing ones, which in turn can impact the market. This process is driven by innovations in materials, processes, or technology itself, encouraging manufacturers to create new products or enhance existing ones based on these advancements.

The arrival of new materials plays a significant role because it can open up possibilities for product design that were previously unfeasible. For example, the introduction of lightweight composites might allow for the creation of stronger and lighter products, which can revolutionize an industry such as automotive or aerospace.

In contrast, the other options focus on market dynamics and consumer behavior rather than advancements in technology itself. For instance, demand for cheaper products typically centers around consumer preferences and economic factors rather than technological innovation. Changes in consumer preferences and marketing strategies are reactive; they respond to existing technologies rather than pushing new technologies into existence. Thus, the correct understanding of Technology Push lies in recognizing how new materials and technological advancements can lead to innovative products, thereby shaping the market landscape.