Latent Need

Latent Need

Latent Need Jonathan Poland

A latent need is a customer need that is not currently being met by the market and is not actively requested by customers. As a result, it may not be identified through market research. These needs are often referred to as “unknown” or “unstated” needs, as customers may not be aware of them. Latent needs can be uncovered through careful observation and analysis of customer behavior, as well as through the development of innovative products and services that address these unmet needs. The following are illustrative examples of a latent need.

Convenience

Products and services that save the customer time and effort. In the 1960s, few customers would have asked for a faster oven because they would have assumed it would burn the food. When the home microwave oven was first introduced in 1967 it didn’t sell particularly well for the first decade because customers were unaware of the technology.

Productivity

Tools that allow customers to accomplish more with their time. In 1990, few customers would have asked for an integrated global network of information, entertainment, commerce and communication but this is what they got with the commercialization of the internet beginning in the mid-1990s.

Usability

Products and services that are pleasing and productive to use. Customers often find faults in the usability of products and services and this commonly surfaces in market research. However, leaps forward in usability such as cut-and-paste and pinch-to-zoom weren’t obvious needs before their introduction.

Experience

Elements of the end-to-end customer experience of a product, service or environment. For example, the introduction of pervasive games that merge reality with digital game elements generated significant customer demand but wasn’t something customers were asking for before its introduction. Customers commonly asked for virtual reality but not mixed reality.

Efficiency

Tools that give you more output for input. For example, a digital twin that is used to manage infrastructure.

Quality of Life

Things that improve quality of life. For example, customers might be happy with concrete walls until they see a green wall for the first time.

Revenue Management Jonathan Poland

Revenue Management

Revenue management is the practice of using data analytics to optimize sales and maximize revenue for a business. This can…

The World’s Biggest Customer 150 150 Jonathan Poland

The World’s Biggest Customer

the U.S. government is the world’s biggest customer, spending over $6 trillion annually on goods and services. Here are some…

Corporate Identity Jonathan Poland

Corporate Identity

Corporate identity is the visual representation of a company’s brand and values. It includes elements such as a company’s logo,…

Sentiment Analysis Jonathan Poland

Sentiment Analysis

Sentiment analysis is the process of analyzing and extracting subjective information from text data. It is a type of natural…

Market Expansion Jonathan Poland

Market Expansion

Market expansion is a growth strategy that involves offering an existing product to a new market.

Daily Goals Jonathan Poland

Daily Goals

Daily goals are targets that you set for yourself to achieve on a particular day. These can include habits that…

Information Security Risk Jonathan Poland

Information Security Risk

Information security risk refers to the potential for unauthorized access, disruption, modification, or destruction of information. This can have serious…

Design to Logistics Jonathan Poland

Design to Logistics

Design for logistics involves designing products with the entire supply chain in mind, including manufacturing, packaging, shipping, warehousing, merchandising, and…

Sales Development Jonathan Poland

Sales Development

Sales development is a crucial part of the sales process that involves identifying potential buyers and developing qualified leads. This…

Learn More

Rule of Three Jonathan Poland

Rule of Three

The rule of three is an economic theory that posits that large, mature markets tend to be dominated by three…

Strategic Management Jonathan Poland

Strategic Management

Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company’s top management on…

Critical Mass Jonathan Poland

Critical Mass

In economics, critical mass refers to the minimum size a company needs to be in order to effectively compete in…

Intellectual Capital Jonathan Poland

Intellectual Capital

Intellectual capital is the intangible value of an organization that is derived from the knowledge, skills, and expertise of its…

Penetration Pricing Jonathan Poland

Penetration Pricing

Penetration pricing is a pricing strategy in which a company initially sets a low price for its products or services…

Practical Thinking Jonathan Poland

Practical Thinking

Practical thinking is a type of thinking that focuses on finding timely and reasonable solutions to problems. This type of…

Continuous Production Jonathan Poland

Continuous Production

Continuous production is a method of manufacturing in which materials and parts are continuously processed and kept in motion or…

Risk Response Jonathan Poland

Risk Response

Risk response is the process of addressing identified risks in order to control or mitigate their impact. It is an…

Prototyping Jonathan Poland

Prototyping

A prototype is a preliminary version of something that is used to test and refine an idea, design, process, technology,…