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How do you develop a marketing strategy around a latent customer need?
Been thinking of this for sometime, but how do you develop a marketing strategy around a product for which there is no proxy for demand? I think about companies like Foursquare- for which I believe there was no similar service before, and largely exploited a latent rather than active customer need. Any thoughts?
- byoung2 15y agoI think about companies like Foursquare- for which there was no similar service before Foursquare wasn't completely unique. There were social networks, and there were mobile apps. If you examine the markets of each of those components, you can make educated guesses about a new product that combines them. I'd imagine Apple did the same sort of study before releasing the iPad...there is a market who enjoys the power of laptops/netbooks, and there is a market who enjoys the portability of mobile phones. Introducing a tablet is basically combining the best of both, and you can draw certain conclusions about how much of a market exists in the middle.
- bmahmood 15y agoThanks for the response. Didn't consider that, and as such helps to think of products in new markets as simply the combination of facets in tangent markets.