Technology has taken over the world with the many inventions and innovations being made on a day to day basis. Many people have tried to come up with inventions and ideas that can improve the actions carried out in the daily activities. These activities vary from the task of providing for basic human necessities such as food, water, shelter and employment. They have immensely grown as the world’s population continues to expand against climate destabilization. These forms of innovations have led to the need of addressing challenges to development that hinder access to relevant knowledge for quick technological dissemination (Diwakar, et al, 2012). Some innovation projects are driven by latent unsatisfied customer needs while others are driven by the creation of a new technology or scientific breakthrough. Technology has also been on the forefront in driving a nation’s economy forward by creating jobs. It also offers a variety of products that can be used to facilitate activities such as communication. Innovation has also transformed a variety of sectors in unforeseen ways where everyone is attached to the technological gadgets (Touhill, 2008). Technology has led to the emergence of many innovations, some of which have not even been commercialized yet. This paper will focus on identifying a new technological innovation that has not been commercialized yet.
This technological innovation has not received any form of commercialization as it was only approved by the panel of expert judges who claimed that it would bring immense change to the industry as well the society. The features of this product include: a laser beam that is aimed at the material sample to be tested thus causing a tiny amount of it to be vaporized in order to obtain the spectroscopic or rather the mass and optical analysis techniques and unique computer software can analyze the sample in a fraction of a second (Touhill, 2008). It also requires a complete analysis infrastructure that is based on dissolving solids in strong acid so that the resulting liquid can be analyzed using standard methods. The product has tiny plasma that produces the laser beam that directly measures and relates to the chemical element as well as its concentration. The laser ablation inductively coupled plasma mass spectrometry measures tiny articles from the ablation. It is basically a portable device that has a stand with a screen on one end and the detective apparatus on the other end (Diwakar, et al, 2012). This device can be used in a variety of applications where bomb detectors can use it to measure and evaluate the quality of air and water to establish if it is toxic or not. It gives the can be used by companies to evaluate the quality of air in which they can grow plant products from as well the used within the company.
The technological innovation will change the way people live today in that it will be used to evaluate the surrounding and determine whether there are any toxins in the air and water. This will in turn prevent diseases both in plants and animals as well as deaths. It will also be used by industries to determine the air and water waste products in the company in terms of whether they are harmful. This will help regulate the levels of pollution that is normally attributable to cancerous disorders as well as global warming. Law enforcers will also apply this product in changing the way people live by detecting harmful products such as atomic and nuclear bombs. Similarly, in case of a disease outbreak the product will be used to evaluate the causes by measuring the quality of air and water (Diwakar, et al, 2012). It will also verify for people that the surrounding is safe for them. Paints used in households may also be evaluated whether they contain lead in order to protect workers from chemical poisoning. Miners on the other hand may also use this product to measure the gases emitted by minerals to determine whether they are flammable, toxic or even contain any chemicals. It may also help them identify the areas that are rich in minerals.
In order to commercialize this product, the inventors need to strategize on the various ways their products will reach the market. This will involve selection of the targeted customer groups that requires the adoption of diffusion cycle. This will create awareness to the customers that such a product exists and they will get to analyze the usefulness of the innovation. The second phase will be determining the firm’s performance by comparing the target market selection and market strategy type (Segarra, et al. 2012). The next step will be market orientation which describes how the innovation complies with the customer needs. It also helps understand the expressed and latent needs of their customers through the processes of acquiring and evaluating market information in a systematic and proactive manner. This will ensure continuity of creation of customer value (Diwakar, et al. 2012).
In conclusion, for commercialization to occur the innovation must be successful in reaching more than just a niche market or rather it must overcome the innovator’s dilemma and guarantee the inventor that the product will serve the needs of the customers. The product must approach various markets to establish a good understanding of the market strategies and then prioritize on the right market to commercialize the product with. This will help the inventors realize any opportunities such as partnerships and agreements. The inventors should be well equipped with patents and copyrights that hinder other people from using their product without their permission. Networking with innovators will also help them stand better chances of commercializing their product for better prices (Touhill, 2008).
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Segarra-Ciprés, Mercedes; Bou-Llusar, Juan Carlos; Roca-Puig, Vicente. (2012). Exploring and exploiting external knowledge: The effect of sector and firm technological intensity.Innovation: Management, Policy & Practice., 14(2), 203-217.
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