There’s actually another part of innovation that we also should consider. In certain economic theories there’s the concept of “the unseen hand” that is rather interesting to think about. One aspect of that is that when someone takes a chance on offering a new product, good or service to the public, they are tapping in to an “unrealized demand” or “potential demand” if the product, good or service is successful. The demand for an innovative new product had to exist in some way even before the product was available in the marketplace. This is an interesting concept to think about in terms of real-world successful products such as the iPhone, iPad, etc.

Sometimes goods, products or services can be introduced prematurely. Back in the early 1960′s the television manufacturer Zenith was trying to offer a new innovation that was quite a bit like cable TV from what I recall reading in one of their TV set printed manuals. Whatever they called it just didn’t take off — it was obviously a good concept, but it was an idea before it’s time.

This stuff is fascinating to research and contemplate.