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Customers do buy what they want relative to other products in the market, but absolute satisfaction could still be broadly low across the board. The incentive t
by monadic2 6y ago
Customers do buy what they want relative to other products in the market, but absolute satisfaction could still be broadly low across the board. The incentive to fix commonly complained about problems is tied entirely to the speed to which their competitors respond—shared incentives prevent the market from improving as a whole through competition.
This is especially true in markets where the capital investment required for entry is in the billions of dollars, like smartphones, operating systems, vehicles and other patented infrastructure (looking at you, john deere).
Overall the claim should be that “customers buy what they want from available products”, so that the one can not claim the converse, that a customer is necessarily satisfied with the products they purchase.