Unfortunately, what this means is that many of these experts fail to realize is that even the most rarefied scientific research is, today, ultimately market-driven. Funding, whether commercial, academic, or governmental, reflects market demand—the priorities of the people who pay. Increasingly, funding depends on practical application—actual or potential—in other words, tangible and predictable return on investment. Concurrently, and just as important, regulatory trends make clear that concerns about environmental and health impacts have emerged over the past 20 years as a societal priority, one that must be factored into the ROI equation. Thus the challenge for SSP development is to satisfy two critical market demands: return on investment and environmental, health, and safety performance. Components of Market Demand8 Market demand for any new product, method, or technology will determine its commercial potential However, demand itself is a relatively complex function, deriving from a number of factors - some of which vary according to the "product" in question. And markets themselves are always in flux, reflecting constant demographic, societal, political, and economic change. In short, then, the whole concept of "market demand" is a moving target, not a static goal Even so, there are some essential characteristics of market demand that apply consistently. While the specifics may fluctuate, it is safe to say that no product, service, or technology will find a market unless people know about it, want it, trust it, and can pay for it. From this very basic premise, several key components can be identified, including: Need—Actual and Perceived. The need being fulfilled can range from the essential to the fanciful, from the very tangible to the highly emotional Wherever they fall on these kinds of spectra, commercial products and technologies must address a consumer need. Moreover, the consumer must perceive and experience that need in order to act on it In short, people must want something as well as simply need it, before they will demand it. Safety—Actual and Perceived. The demonstrable safety of a new product or process is fundamental to successful commercialization. Few people will accept, much less demand, a new product or process they know—or believe—to be unsafe. Benefits—Actual and Perceived. In addition to direct benefits (i.e., fulfillment of a specific need), more general benefits of a given product or technology strongly influence market demand. Such benefits, often long-range, may be societal, economic, or environmental, and contribute to overall desirability. Value—Actual and Perceived. Value can be seen as the net of actual cost and perceived benefit. Costefficiency is an important factor in consumer decisions, especially when a range of alternatives exists. Means. Regardless of how urgently people may need, want, or demand something, their ability to get it depends on whether or not they can pay for it. "Payment" may be literal and direct (as in a consumer 8 Power from Space: The Imperatives of Commercialization. M. I. Woodell, AIAA/SSI, May 1995
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