Identify Current, Emerging, and Latent Demand
By assessing all forces and factors, we can identify and capitalize on demand in its three forms: current,emerging and latent.
Current demand reflects expressed needs and wants. The opportunity lies in continuously improving your product to better meet consumer demands. As an example, Bud Light Lime, which was one of the most successful product launches of all time, emerged from research by Anheuser-Busch and The Cambridge Group showing that consumers desired slightly sweeter alcoholic beverages.
Emerging demand reflects needs that are just beginning to be articulated – those held by a small but growing consumer segment. For example, we helped a large dairy company capitalize on growing non-dairy beverage trends after it purchased a major soy milk brand.
Latent demand sits outside the box. It comprises unrealized needs that have yet to be articulated by consumers, yet are potentially disruptive and highly transformational.