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Home→The Westburn Dictionary of Marketing→T→technological forecasting

technological forecasting

Definition:
(technology forecasting). The forecasting of the timing and nature of future potential technological developments. A technological forecast predicts how soon various technologies will be possible and what characteristics they are likely to have in terms of technical parameters and attributes. The actual technology that will be used in the future depends on economic, social and political considerations. Technological forecasting, therefore, must plot the likely course of development of a product or idea in its total future environment. In the context of a firm it provides a means of predicting technological change that is likely to have an impact on the firm's products or manufacturing processes, It may also outline possible new areas for technological innovation and suggest routes to follow in developing new products or processes.

Cross-References:
[Morphological analysis] [relevance trees]

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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Douglas Brownlie and Michael Baker],.