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A business exists to sell a product and to create revenue. Ever heard of a better mousetrap? Evidently people have mice and the better mousetrap is going to sell. Actually you may not need a more effective mousetrap. You really need a mousetrap that looks better and more convenient to use to a greater number of people. I do not mean to be cynical or critical but let us look at a recent product, the touch screen smartphone that many of you already use.
Apple was the pioneer of the touch screen smartphone with the iPhone that took the world by storm even at its incredibly high price. Apple has come out with new versions and has improved many times over their original offering. They are still doing well in the market by virtue of their strategic positioning as distinctive and user friendly with special apps and software. As you all know, Samsung (Taiwan) is no mean contender. Samsung may have more phones on the market with more special features than Apple. Then there is Nokia and many others.
Consider an Internet-enabled smartphone with touch screen and user-friendly apps. What is there in the product design that attracts computer manufacturers (like Apple), and digital technology manufacturers (like Samsung)? What are the matching characteristics between the market and the technology that make these designs hot sellers?