Definition
Innovation can refer to something new or to a change made to an existing product, idea, or field. [1]
Demand-pulled innovation (also known as market- or customer-driven innovation) is caused or at least stimulated by the needs, wants, or desires of customers. This contrasts with supply-pushed innovation. [2]
Supply-pushed innovation (or technology-driven innovation) is based at least partly on the abilities and outputs of technical engineering and research and development functions. It involves making what the organization is able to make. [2]
See Also
References
- Merriam-Webster; merriam-webster.com/dictionary/innovation
- American Marketing Association, AMA Dictionary.