Before inventors begin the development process for their new product idea, they should research the market. They must understand who their target market is and hopefully large enough to make the invention profitable.
They also must realise that no matter how much they like their new idea, there is no such thing as a target market that includes everyone. No idea or product appeals to everybody, making the term “must-have” an oxymoron in the inventing context.
When Time magazine conducted a survey many years ago to identify the most useful invention ever, the smart phone was the prevailing choice. Still, a survey on smart phone ownership in February by Pew Research Center showed that 77 % of Americans owned one—meaning that almost a quarter of the U.S. public presumably manages just fine without it.
There may be an invention that is even more indispensable, one that we take for granted in our daily lives that has been used in various forms for about 1,500 years: toilet paper.
Accrol Group Holdings plc (LON:ACRL), based in Lancashire, is a leading tissue converter and supplier of toilet rolls, kitchen rolls and facial tissues, as well as other tissue products, to major discounters and grocery retailers throughout the UK.