Alea - WAVX has provided plenty of evidence that "the whole supply side theory has been a disaster". This doesn't lead to the conclusion that "it's what buyers want that counts".
I see very little evidence (in my day job of bringing products to market) that success correlates to giving the customer what they want.
Customers select from what is available. Companies with no market share have to maneuver around existing players to get their product visible without getting their product crushed by the existing holders of market share.
I like the illustrative story of Guastavino, builder of the Boston Library, St. John's NYC and the Tea Room at Grand Central NYC. People really loved his work and the product was far superior to steel construction especially in terms of being fire proof. But, the customer suddenly couldn't have what they wanted. Construction standards were rewritten requiring that the design be accompanied with calculations of stress. Mathematicians didn't know how to calculate the stress in a thin shell curved surface. The existing suppliers of building managed to kill that product.
Years ago I brought a product to market in a stupid way by advertising and making people away of it. Generated lots of interest. Dupont was threatened as it was directly aimed at displacing one of their products in Europe, Japan and Korea. Suddenly my product appeared on a trade restriction list claiming that it had military uses. I wasn't allowed to sell it. The fact that customers wanted it didn't count for much.
To me it is all about the supply chain and distribution. Off-radar setting this up is essential. Otherwise one is dead before they even begin.
Once a friend (founder of a public traded company) was bringing a new product to market that had a price 60% lower than market and of superior performance. Since there were 8 suppliers in that market, and since none dominated, I pointed out that he would likely go bankrupt because such a market distribution cannot be penetrated on price and performance. He went ahead anyhow. His business died a quick death in this product area. Satisfying the distribution channel is far more important than satisfying the customer. Customers are willing to put up with all kinds of garbage (examples Microsoft, crappy cars) did anyone ever want these product headaches?
