Talking to people in your prospective industry can be especially helpful if your proposed product is a service.

Question

BlackTom AI · Accepted Answer

The statement addresses whether engaging with people in your prospective industry can be especially helpful when your proposed product is a service. 
Option 1: True. Talking to industry peers, potential customers, and insiders can provide valuable insights into customer needs, pain points, market gaps, and practical constraints specific to a service offering. It helps validate assumptions, refine the service concept, gauge demand, pricing, and delivery channels, and build a network that can assist with partnerships or early adopters. This kind of qualitative feedback is often a crucial early step in service development. 
Option 2: False. This would claim that conversations with industry insiders offer little to no benefit or are irrelevant to a service idea. This misses the standard practice of market validation, where industry conversations frequently reveal nuances that surveys or internal ideas cannot capture. It also ignores the potential for identifying competitive dynamics, regulatory considerations, and real-world delivery challenges. Moreover, it could discourage proactive customer discovery, which is essential when the product is a service with intangible deliverables and variable execution. 
In summary, speaking with people in the target industry is generally advantageous for shaping a service-based product, and discounting that input overlooks a key risk-mitigation step. The nuance to remember is that insights should be interpreted carefully and corroborated with multiple sources rather than taken as definitive truth from a single conversation.

KSB-111-001.2025S Quiz -- Chapter 8

Talking to people in your prospective industry can be especially helpful if your proposed product is a service.

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