Demand Quote by Edward A. Hudson
““A small number, such as Stephenson’s railway passenger services, were unexpected successes – a new product appeared for which there was a large but previously unrecognized demand. Other major new products though catered to an obvious unmet demand; examples include municipal services such as water and sewerage services, urban mass transport and even education.””
About This Quote
Source Book: Economic History of Infrastructure, Edward A. Hudson, 2014
New services can succeed by revealing hidden demand, while others meet obvious needs.
In simple terms: Hidden demand can drive unexpected success.
Key Takeaway
Identify unseen market needs.
Themes
innovation
market demand
infrastructure
entrepreneurship
Mood
analytical
optimistic
Type
observational
strategic
When to use this quote
- urban planning
- municipal services
- transport projects
- education initiatives
- business strategy
Key Concepts
latent demand
product discovery
public utilities
Questions to Reflect On
- What unmet needs exist in your sector?
- How can you test for hidden demand?
A Different Perspective
Success may depend on timing and social acceptance.
