TechnologyTechnical challenges that make the product impossible. In some cases, a technical breakthrough leads to a large number of new products. For example, the commercialization of the internet in the mid-1990s led to thousands of new products within a few short years.demand for old products if they were re-introduced.
CostThings that could technically be built but are too expensive to be viable. An innovation that suddenly reduces costs can make new products possible. For example, the costs of launching spacecraft into space have been reduced with time allowing for new commercial opportunities.higher quality version of an existing product such as artisanal food.
MonopoliesDissatisfied customers who are stuck with a dominant product or service. Such customers represent pent-up demand for any competitor that can improve things.failure of imagination.
CultureA product that is popular in one culture can often spread to another culture if adapted to local preferences.saves customers time or labor. For example, the microwave oven tapped latent demand for faster preparation of food. usable. quality of life or the environment over one that does.
|Overview: Latent Demand|
A customer need or preference that is unmet by currently available products on the market.