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Problem:
The
shift of product development and manufacturing to offshore resources
has caused a “generic-ization” of products with little or no value
of one brand to another being perceivable to the consumer
o As a
result, pressure on product price occurs as overseas design and
manufacture allows for more and more profit margin competition (see
the case study “An Example of Today’s Market Pressure”
offered on the following page)—this may affect the ability of the
name brands to compete in the long run without compelling technology
or “stories” to maintain long term market share
Also, consumers today are demanding more and more useful performance
and function from their products
o
For
many industries, verifiable advantages to performance are required
in order to achieve useful market share (i.e. the outdoor and
performance sports markets)
Materials used for most day-to-day applications in most ordinary
products don’t react to their unique environments in order to
provide useful and/or enhanced function and performance to the
consumer.This
leads to many problems, among which are:
o
Excessive power utilization (e.g. for electronics)
o
Discomfort (e.g. for textiles, footwear, apparel)
o
System and mechanical complexity
o
Decreased reliability
o
Increased cost
o
Low
long term user adoption
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