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/biz/ - Business & Finance

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58492910 No.58492910 [Reply] [Original]

>No matter how good your new thing is, you need people to understand it for anyone to be willing to buy it
>The first people to understand the idea essentially get to dictate the price of it because they're the only market for it

Do you think that this is true?

>> No.58492946

Do you have a counterexample? What is something that people don't understand that they spend money on?

>> No.58492954

>>58492946
Yes. Literally any tech startup. I don't think that the finance bros working for VC firms really get what the tech bros are pitching to them a good 90% of the time.

>> No.58493007

People “understanding” your product is marketing I think, you’re making people aware of what your product is or does. The inverse of that would be low or no marketing companies I presume, that thrive off of product engineering and word of mouth alone, like Valve/steam maybe is the one I’m aware of

>> No.58494466

>>58492946
Fidget spinners
>>58492910
Yes it's called price Discovery

>> No.58495924

>>58493007
People still have to "get" what Valve is though.

>>58494466
Price Discovery is definitely a closely related concept, but I'm talking less on the economic end of that phenomenon and more on the psychological end. What in the human brain makes someone look at an idea and say Eureka?

>> No.58496369

>>58495924
I agree, people “get” valve, but they get it through using the products and word of mouth, and not through communication from the company like traditional advertising channels