MARKETING PRESCIENCE: PICKING THE RIGHT HORSE

The point of marketing prescience is to predict what customers may want in the future so that you can tailor your products or services to their future needs. The key to marketing prescience is to have an open mind, using any and all experience, working from analogy, and accepting ideas from any source, or from any person, no matter how bizarre the idea may appear at first blush. Conversely, the major inhibition to marketing prescience is the closed mind, the mind that says, “We have tried that before” or “It cannot work” or “It's a stupid idea.”