The late 1990s saw the launch of several portable MP3 players as substitutes for Walkman and portable CD players. However, their sales were lukewarm. In 2001, Apple entered the digital music industry with the launch of the iPod. Critics commented that iPod would die down without a whimper. However, iPod changed the way people listened to music. It made it cool and fashionable to listen to music on the move. And it transformed the music industry itself.
Lee Iacocca, former Ford Chairman, said that selling a product is about solving customer problems. If you do not understand the customer well, you cannot sell any product. You would be wasting time and losing credibility…
