I need to talk approximately technology as a form of innovation, but rather than diving directly into it, it is essential to understand that there are three extraordinary varieties of innovation, and that technology is handiest certainly one of them. the alternative 2 varieties of innovation are:• functional – How the user interacts with the product. this might include how clean it is to install or perform, or it would do some thing for the consumer that became not formerly possible and• Aesthetic or Sensual – concerning the senses, consisting of how a product seems, sounds, feels or even tastes and smells.we’re greater acquainted with technological innovation because it pertains to the generation behind the product (if it’s far genuinely revolutionary then you will be capable of shield it with a patent). but I need to drop a bombshell on you all now by way of saying that “era does not promote”!WHAT – technology would not promote?that is proper, if you walk down the excessive street and look in all the store home windows, how many products can you see which can be in simple terms selling on their era? Of direction we’re familiar with Vorsprung Durch Technik, however in fact people do now not purchase Audis merely due to the technology inside the car. They purchase Audis because they provide benefits to the consumer together with setting a standing in addition to the greater down to earth capabilities such as how many occupants it can maintain, how lots luggage area is available and what on board amusement there is for the youngsters on long journeys.So this leaves a dilemma. If generation innovation does no longer promote, then why hassle in any respect? The fundamental solution is if generation may be converted into a benefit or a perceived benefit to the customer, then not most effective is it in all likelihood to do well, but also there could be a extra respiratory area before the competitors can input the market with a cheaper alternative.So although technology innovation on its personal does no longer promote, it is able to be used as a method of delivering advantages that are hard for customers to duplicate. If the generation is globally modern, then highbrow property can also be used to provide a similarly buffer from the opposition.however here’s a phrase of caution. do not believe that just due to the fact you have something that is a advantage to you, that you actually have a benefit to the hundreds or lots of customers which might be needed a good way to acquire a wholesome return on your investment. you continue to need to make certain that the simple opportunity analysis is carried out to ensure that the figures will stack up in your favour at the stop of the day.enjoy the possibility!