Additionally, as anyone working in manufacturing knows there is a little tool called the “marketing survey”:
“Mr. Customer would you be interested in buying product x if it did y & z? And if so, what would you be willing to pay for product x?”
So if you produce something that nobody buys, how did consumption produce it?
Exactly. And often times the marketing survey returns bogus results. It is often that a customer doesn’t know what they want or need. Simply because the product or idea is too new.
An example: if you asked my 10 years ago, if I needed a mobile phone that does everything. I’d probably tell you that my tried and true wired phone works just fine. Timing is everything.
Additionally, as anyone working in manufacturing knows there is a little tool called the “marketing survey”:
“Mr. Customer would you be interested in buying product x if it did y & z? And if so, what would you be willing to pay for product x?”