From a Seed to a Need: the Growth of Shape Memory Applications in Europe.

Abstract

AbstractA more systematic marketing research approach has finally revealed good ideas anticipating a market need for the use of shape memory alloys. The success of those new ideas, prototypes and applications are analysed in terms of “the value of the function”, defined as the importance of the function divided by the cost of providing the function. A high importance and/or a low cost of the function are thus the basic requirements for the successful introduction of shape memory applications. Attention is also paid to the way how the 4 P's, product, price, place, promotion (the marketing mix) are applied by the European companies. Those different items will be illustrated on the basis of some small-, medium- and largescale applications, used in different markets. “to the point research”, fundamental and applied, on material properties as well as on manufacturing (cost reduction) is being discussed as the key factor to increase the function value.