EFM Feedback survey software

My friend is very bull-headed. He told us earlier about the product the wants to launch and asked us for our opinion on whether should he buy the EFM Feedback Survey Software to get feedback from customers, employees and prospects? We told him to go ahead and get it done. It's good to know in advance what customers wants so that he can better promote his product. He decided not to at the last minute and went ahead and launch his product. He then found out that there is a more advanced version that's just been launched by a rival company two weeks ago, and he's now stuck with all his stock and unable to even sell 10% of them.