Psychophysics and Business

A lot simpler than it sounds, how would you utilize psychophysical techniques to create a sustainable business model and help your business grow? Naturally this might limit the focus of what your business can accomplish, but it might also open up interesting new avenues to explore, possibly helping one to "cross the chasm" or develop very interesting and new brands of food or hair products or perhaps even games! Here's a video and a Wikipedia link to see what I'm talking about:

https://www.youtube.com/watch?v=iIiAAhUeR6Y

Quote:

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Psychophysics quantitatively investigates the relationship between physical stimuli and the sensations and perceptions they affect. Psychophysics has been described as "the scientific study of the relation between stimulus and sensation"[1] or, more completely, as "the analysis of perceptual processes by studying the effect on a subject's experience or behaviour of systematically varying the properties of a stimulus along one or more physical dimensions".[2]
Psychophysics also refers to a general class of methods that can be applied to study a perceptual system. Modern applications tend to rely heavily on ideal observer analysis and signal detection theory.[3]
Psychophysics has important practical applications. For example, in the study of digital signal processing psychophysics has informed the development of models and methods of lossy compression. These models explain why humans perceive very little loss of signal quality when audio and video signals are formatted using lossy compression.


https://en.wikipedia.org/wiki/Psychophysics

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Please, tell me what you think.

I think it makes a lot of sense, and I think in the video the main idea was that everyone is different, and likes different things. If you were to apply that to a business, then I think the business would need to be flexible and able to accommodate multiple views. One thing you do hear often is that when you are starting some kind of new business it is good to find your niche, but it often seems like everything has already been done. Though when you look at things in this way you can see that there is a lot of stuff that has not even been tried yet., and people don't realize it because they are seeking that one 'best' thing.