• Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint
Share this Page URL
Help

Element 1. Compelling Unserved Need > Where to Find This Answer

Where to Find This Answer

Would a typical customer behave irrationally to own the product or receive the service before it existed as an offering by a company that does not yet exist? If the product or service were scarce, what premium would the customer be willing to pay? What savings could the product or service offer the customer? Fortunately, there are quick ways to identify the available substitutes. If there are adequate substitutes fully available at prices below yours, help me understand how compelling your product could be. In five minutes or so, Thomas Register, plus Google, Refdesk, and other search tools on the Web can offer names of companies who deliver products near to the one contemplated. (Search under a generic product or service name, or under the features and benefits you think the competition would offer.) Discovery of the compelling need is as simple as looking around the market for substitutes and competitors. If they are not visible, you could be onto something. Now you need to be able to explain why customers will crawl over broken glass to buy your product. What is so compelling about it that will drive people to own or use it?


PREVIEW

                                                                          

Not a subscriber?

Start A Free Trial


  
  • Creative Edge
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint