Henry Ford has been reportedly quoted to say "If I had asked people what they wanted, they would have said faster horses".
As much as it is important to "listen" to the market and get the pulse of consumers, innovative products are more often than not, created as an outcome of internal brainstorming. It is the ability to identifying the cutting edge technology and more importantly making a business proposition with the technology that sets apart an innovative product from the most 'made-to-suit-market' products.
No, I am not denying the importance of products that are build to fulfill the market need. I am a firm believer that products should be build to fill a gap in the market, rather than a gap in a companies product line". In this space, however I am talking abut what leads to an innovative product.
Talking of which, think of it - if before making iPhone (or iPod or iMac) ... apple product manager had asked the users of smart-phones, mp3 players or desktops, what features they would like to have, I am sure it would not be any close to what the current form and shape of these products are.
The take-away from this is - as much as customers, consumers, analysts are important input sources - for innovation, build your own solid team of architects, engineers and product managers.
I leave you with last anecdote for today. The inventor of Medical Devices "Dean Kamen" once asked where you would put a third eye if you could have one?" Everyone in the audience said on the back of their head; without hesitation, generally, on the back of the head. But when Dean said, "what about on the tip of your finger?" everyone agreed, without hesitation, that that was much better!
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