Question
Betting on technical insights over market research can lead to the creation of a far superior product compared to existing competition. This is because technical insights apply technology or design to reduce costs or significantly increase functionality and usability. Unlike products based on market research, which are often designed to meet existing market demands, products based on technical insights can redefine the market and create new demand.
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Bet on Technical Insights, not Market Research: Technical insights apply technology or design to reduce costs or significantly increase functionality and usability. Unlike products based on market research, the result is a far superior product compared to existing competition. Platforms not Products: With the democratization of information, computing, connectivity, and manufacturing, global scale is within everyone's reach. To succeed in the Internet Century, leaders have to create and grow platforms that connect users and create multi-sided markets. Default to Open: While conventional management thinking privileges competitive advantage, the Internet Century rewards open sharing of intellectual property, using open standards and giving customers the freedom to exit. Openness gives your organization scale and innovation. It can become a powerful way to dislodge entrenched incumbents as it drives innovation and reduces the costs of complementary products. Don't Follow Competition: Obs...
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