Some interesting theories which can be applied,
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This review is from: The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail (Hardcover)
The author makes a number of important points, two of which stood out for me:
1. The distinction between a product being the best it can be and what a customer actually needs from it. There are numerous examples given of where the technical specifications of products such as disk drives improved far beyond what customers needed. Beyond a certain point customers weren't prepared to pay much extra for further advancements. The result was commoditised pricing.
2. The distinction between what you are good at making and what the market wants. A good example was the manufacturers of cable excavators not understanding how small building contractors worked, and thus continuing to produce what they could, not what the market increasingly wanted. The result was that they almost all went out of business.
If you run or own a business, this is a useful book to read. It doesn't have to run a manufacturing business - my firm does software services, and yet there are still relevant lessons in this book.