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Even the so-called experts and thought-leaders in innovation frequently talk about the importance of discovering customer’s “latent unarticulated needs, needs that customers cannot tell us.” This is a very common myth! It is false. The problem is not that customers cannot articulate their needs – they can.
Have you ever found yourself wondering how to size a market for something that doesn’t exist? The conventional – and usually unhelpful – approach is to determine the historical revenue generated from the sale of pre-existing similar offerings.
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