If we build a better mousetrap, they will buy it.
If we build it (said about a baseball stadium), they will come.
Don't bother me about marketing stuff, I know what the customers need.
Well, maybe yes, maybe no.
In high ticket, high tech markets, customers buy what they think they need to get a job done. When their order rate is high, they buy more stuff, and when their order rate is low, they buy less stuff. The question is: Why should they buy your stuff?
Sometimes suppliers do know more about their customer's requirements than the customers do, but often they do not.
Keys to Success
Many people think the following equation is correct:
(Capability)(Desire) = Market Success
This equation is only true in the limit where the organization understands the Target Market and its Market Requirements, and where the Market is aware of the capability.
A better equation is:
(Capability)(Desire)(Meeting Market Requirements)(Market Awareness of Capability) = Market Success
The so-called marketing axiom, "If we build a better mousetrap, they will buy it.", is highly misleading because it depends on two unstated assumptions:
Meeting Market Requirements = 100%
Market Awareness of Capability = 100%
In the mousetrap market, the Meeting Requirements part is fairly easy (eliminate mice), and shelf space in appropriate distribution channels will probably take care of Market Awareness.
Markets outside simple consumer items are much more complicated.
Successful Product Development in High Tech, High Ticket
The 18 cardinal steps of a successful product development are:
Success requires knowledge, effort, inspiration, and energy.
Develop your plan and go for success!!!