Why do most new products fail?
1. Organizations base new products on what their current customers request rather than an understanding of the unresolved problems that people will pay money to solve.
2. Organizations try to create a need in the market through expensive advertising or relying on an army of salespeople instead of building products that the market wants to buy.
The most successful organizations tune in to their markets.
In this blog and in our upcoming book, we’ll introduce you to dozens of tuned in organizations that develop products and services that resonate with buyers and help them to achieve success.
People who run tuned in companies largely ignore the competition. Instead they focus their energies on the problems that buyers are willing to spend money to solve. By first understanding market problems, then building the products people want to buy, and communicating to buyers that we solve their problems, everything else falls into place.
Sounds easy.
Actually, it is...
…if you’re tuned in.
