When Edwin Land successfully launched his classic invention, the Polaroid camera, he should have stopped there. Against the advice of his sales and marketing people (and without the benefit of market research which he detested), he introduced a device, called Polavision, (selling at the hefty price of $700) that would record an “instant color movie.” So convinced that this device would succeed, Land invested 68 million dollars to promote it. In spite of the desire and the dollars, the product failed. [Read more…]
