Taste in product creation overlaps a lot with design: doing it well requires it to be valued, rewarded, and embedded in the company’s culture and upper leadership.
Specification is not the Product
Any product is always built to a specification. A 4-inch touch-sensitive screen, 1GB RAM, 8GB memory, expansion via SD card slots and so on. Yet the result, when one considers an Android phone, feels like something a one-eyed drunkard put together, after pondering nuances with co-drunkards in a noisy section of a 3rd world bazaar.
Yes it is manufactured to specification but the thing functions in a way that makes you feel disappointed every damn time. That experience betrays lack of taste at every point from, and between, producer to consumer. Of course there will be a market for poorly designed products/services. You could argue about affordability, demographic needs, wider price points and so on. But a producer of such tasteless goods is only a slightly refined version of crooks who steal from children.
Aesthetic Escapes Specification
What is taste? Hard to describe but taste can be i) an aesthetic sensibility ii) an outcome of a specific world-view or iii) result of a reasoned belief. Taste, like reasoning, is a skill of mental cognition. Everything needs to be actively thought about, critiqued and most important savored for what it is beyond its functionality .
Put simply, if specification is prose then taste would be poetry. A specification can never capture beauty and feeling.
Why should you care? Tasteful products have competitive differentiation built-in. Of course it requires an audience with taste. The challenge will be to identify this audience, if not to work towards educating and building up an audience with taste. That done, you don’t have to play the “price drop” game anymore. And taste is hard to copy too. Your competitor can steal a feature or your style but they can seldom be you or your product.
Where does taste stand in your scheme of things? Does your organization have it, encourage it?