The reality is your product or service will be competing with many other well known and less known brands out there, with companies that may have already figured out how to attract and keep their customers.
In order to make your business a customer need rather than a want and to ensure it generates sales and interest you want to sell somet
hing that helps customers eliminate a pain point. In this way you would be solving a problem for them.
Taking the example of loss aversion theory, you want to present your business in a way that it becomes a need to consume your product or service because not doing so would cause a huge inconvenience to the customer.
Hence why by solving a problem for the customer and appealing to their fundamental needs you will gage their interest and purchase of your product/service.
Have a look at how Fashion Metric used problem solving and solution finding to decide which customer need they would fulfil - Fulfilling customer needs
Another issue many aspiring business owners face today is the search for the ‘perfect idea’, when really all they need to do is identify how they can solve or better existing pain points that currently exist - Solving problems, chasing ideas