Definition
Technological change involves the discovery and application of new products, new and improved machines, tools, equipment, and methods of production.
Technological forecasting involves the prediction of innovations and advances in a particular technology. Both exploratory research methods and normative research methods are used, the former to project future developments based on the past, and the latter to focus more on planning and planned technological innovation.
Technological mapping is the gathering and analysis of information about the direction and timing of possible competitive technological developments.
See also
Experience curve effect
New product development
References
- American Marketing Association, AMA Dictionary.