markaðsdrátta
Markaðsdrátta is an Icelandic term that translates to "market pull" or "market demand." It refers to the influence that consumer desires and needs have on the direction of product development and innovation within a market. When there is strong markaðsdrátta, companies are driven to create or adapt products and services to meet existing or anticipated customer preferences. This concept emphasizes the consumer's role as the primary driver of market activity, as opposed to "tæknidrifinn þróun" (technology-driven development), where innovation is primarily a result of technological advancements seeking applications.
The presence of significant markaðsdrátta often leads to increased competition as businesses strive to capture market