By Rob Basso on
8/24/2011 10:32 AM
By: Jack Signorelli
I’m working with a company that at one point had a product that was not only best in class, but also technically far ahead of its competition. This company created a better way of offering its services and customers loved it and paid for it. Then senior management made a fatal mistake. They went out and asked their customers what features they wanted to see in the product and they delivered on those features.
Unfortunately for this company, its competitors didn’t ask customers what they wanted. Instead, the competitors had a vision of which features and business practices which would deliver greater value. Customers didn’t really see the value at first- until they saw the product. When they tried it, they loved it.