The Hot Number

Friday, 23 February 2007 04:44

Consumer future needs projection is a method of analyzing consumer trends to anticipate consumer needs. The company times the release of the product/feature to the point when the customer will need the new product or feature. If the consumer needs are predicted accurately, the company will hold a competitive advantage. The new features it introduces will help the company’s industry evolve, and place that company ahead of it competitors while it maintains that advantage.

There are drawbacks to releasing new technology. One danger is that the new feature may not be supported by competitors’ technology. Breaking from ISO, W3C, or other standards guidelines makes it difficult for the feature to become accepted and adopted by competitors. Another danger is that the future needs projection could be wrong. By releasing a product too early, consumers are not ready to use the product. By releasing a product too late, consumers would have found another product to fit their needs. Either way, the sales will not be as robust as if the release of the product was properly timed.