High Tech Marketing
QUESTION 1. What are the two approaches governments use to define high-tech? What are their strengths and weaknesses.
Answers :
High-tech means stylistic term applied to the expressive use of modern technology, industrial components, equipment or materials in the design of architecture, interiors and furnishings. There are two approaches governments use to define high-tech which is input-based definition and output-based definition.
The input-based definitions is based on criteria such as the number of technical employees, the amount of research and development (R&D) outlays or the number of patents field in a given industry. For example, U.S Bureau of Labor Statistic (BLS) classifies industries based on their proportion of scientists, engineers and technicians; firm that employ a high proportion of scientific, technical, and engineering personnel comprise high-tech industries. Similarly, the Organization for Economic Cooperation and Development and the National Science Foundation define high-tech in terms of the ratio of R&D expenditures to value added of a particular industry.
The output-based definitions is based on whether products embody new or leading edge technology. For example, the U.S Census Bureau identifies 10 major technology areas that produce such products biotechnology; life sciences technology; optoelectronic; information and communications technology (ICT); electronics; flexible manufacturing; advanced materials (semiconductors, fiber optics); aerospace; weapons; and nuclear technology. Similarly, the American Electronics Association uses the U.S government’s NAICS (North American Industry Classification System) to classify 45 high-tech industries into three major output-based groupings; High-Tech Manufacturing, Communications Services, and Software and Computer-Related Services.
Strengths and Weaknesses of Government Approaches to Defining High Technology
Input-Based Approaches
Strengths : * Data are generally easily
Answers :
High-tech means stylistic term applied to the expressive use of modern technology, industrial components, equipment or materials in the design of architecture, interiors and furnishings. There are two approaches governments use to define high-tech which is input-based definition and output-based definition.
The input-based definitions is based on criteria such as the number of technical employees, the amount of research and development (R&D) outlays or the number of patents field in a given industry. For example, U.S Bureau of Labor Statistic (BLS) classifies industries based on their proportion of scientists, engineers and technicians; firm that employ a high proportion of scientific, technical, and engineering personnel comprise high-tech industries. Similarly, the Organization for Economic Cooperation and Development and the National Science Foundation define high-tech in terms of the ratio of R&D expenditures to value added of a particular industry.
The output-based definitions is based on whether products embody new or leading edge technology. For example, the U.S Census Bureau identifies 10 major technology areas that produce such products biotechnology; life sciences technology; optoelectronic; information and communications technology (ICT); electronics; flexible manufacturing; advanced materials (semiconductors, fiber optics); aerospace; weapons; and nuclear technology. Similarly, the American Electronics Association uses the U.S government’s NAICS (North American Industry Classification System) to classify 45 high-tech industries into three major output-based groupings; High-Tech Manufacturing, Communications Services, and Software and Computer-Related Services.
Strengths and Weaknesses of Government Approaches to Defining High Technology
Input-Based Approaches
Strengths : * Data are generally easily