What is the driving force of product research and development?

Why does an enterprise do research and development? What exactly is driving enterprises to carry out R&D activities? To sum up, there are two sources of motivation for enterprises to carry out research and development.

first, demand pull.

enterprises see that there is a specific demand in the market, and this demand has not been well met with the existing products, so they develop related products according to the demand. If the enterprise can succeed in research and development, it can meet this demand well and get corresponding returns, which is demand pull.

second, technology promotion.

The enterprise constantly innovates technology in the laboratory, and if it successfully introduces new technology, it will use the new technology to guide new products. For the consumer, his own understanding is limited, so before this new product goes on the market, consumers simply can't imagine that there is such a product. If an enterprise introduces a new product through technological innovation and puts it on the market, consumers will find that there is such a good thing, and consumers' demand will naturally be stimulated, which is technology promotion.