In this episode of the Lifelong Customer podcast, host Brad Hammond interviews Doug Howarth, CEO of Hypernomics Inc. Doug shares his journey from a 31-year career at Lockheed to founding Hypernomics. He was inspired to create a new way of visualizing markets in multiple dimensions after a personal experience with his wife buying a washing machine. This led him to develop a system that helps businesses understand market dynamics by plotting features such as price, capacity, and demand in a four-dimensional space. This approach aims to predict market behavior and identify opportunities more accurately.

Doug explains how Hypernomics uses mathematical models to map out demand curves and identify underpriced and overpriced products. By analyzing markets in multiple dimensions, businesses can find gaps where new products can succeed and avoid over-saturated areas. He provides an example from the electric car market, demonstrating how understanding these demand frontiers can guide product development and pricing strategies. He also recounts a practical application during the COVID-19 pandemic, where a simple rearrangement of restaurant seating based on demand principles significantly boosted revenue.

Towards the end of the discussion, Doug highlights the importance of integrating cost, value, and demand analyses for better market insights. He emphasizes that while the journey of building Hypernomics has been challenging, the comprehensive approach to understanding market dynamics has the potential to revolutionize how businesses operate. Doug advises aspiring entrepreneurs to be persistent and resilient, sharing his own experiences of overcoming financial and operational challenges to bring innovative solutions to the market.