Chicken and egg.
Consumption can create a need that didn’t exist before. The PDA and basic cell phone created a need for the smart phone. Also, the need for a music player created the ipod which in turn created the Iphone. The iphone may not exist if it weren’t for the Ipod and the huge business that it created.
The people in Venezuela "need" toilet paper.
The "need" for a product does not cause it to come into existence.
The only products that can be "consumed" are products that have been produced.
“Also, the need for a music player created the Ipod which in turn created the Iphone.”
No, it didn’t, SOMEONE created the ipod in response to a PERCEIVED need but need has never created anything and the Ipod certainly did NOT create the Iphone. All the needing that I have ever experienced did not create so much as a crumb.
Agreed. There is a symbiotic relationship between the producers & the market.
Which is why the US has thrived via the vision, determination, and fortitude of venture capitalists...
“Consumption can create a need that didn’t exist before. The PDA and basic cell phone created a need for the smart phone. Also, the need for a music player created the ipod which in turn created the Iphone. The iphone may not exist if it weren’t for the Ipod and the huge business that it created.”
You greatly underestimate Steve Jobs. “The consumer doesn’t KNOW what he wants until I offer it to him.”
Will the same prove true of the iWatch? Stay tuned . . .
Ingenuity produced the iPhone.Someone built a better mousetrap and it was a hit.