We have seen many examples of products failing despite heavy market research which predicted success, case in point the new Coke. However there are many products out there which made it without any market research and ones which could never have been discovered as a result of Marketing research. Take the example of the Sony Walkman. No Market Research took place and it was not even known that such a product would ever be demanded. However was is one of the best selling products of its time. Similarly Coke was originally intended as a cough syrup and is now one of the best known soft drinks around the world.
The point is that sometimes intuition and vision may be a better judge of product success and research. However this does not mean that companies should abandon Market Research altogether in favor of trying their luck. Marketing Research is still important as it lowers the risk of failure.
Here is a list of products which were discovered by accident:
2 comments:
haha interesting list but there should be a couple of other items as well like ice-cream which came into being by accident, and pop corns :)
haha interesting list but there should be a couple of other items as well like ice-cream which came into being by accident, and pop corns :)
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