But the Edsel was one brand or model in the Ford lineup. They perceived that there was a need to have a product to complement the Ford - Mercury - Lincoln since Chrysler had Plymouth, Dodge, Desoto , Chrysler and Imperial and GM had Chevy, Pontiack, Oldmobile, Buick and Cadillac.
The auto industry in the 50's and 60's has been analyzed as having a very definite manufacturing focus based on "If we build it they will buy it" as opposed to a consumer focus of finding out what the consumer wanted. That is why the Japanese manufacturers were able to so rapidly establish a foothold by offering less expensive, more durable cars with the basic features consumers wanted.
In one article, it is stated that "Ford had never “test marketed” the vehicle or its unique styling concepts with potential, “real” buyers prior to either the vehicle’s initial development decision or the vehicle’s shipments to its new dealerships."
The research on the Edsel had more to do with looking at the Oldmobile-Buick-Cadillac and the Desoto-Chrysler-Imperial market segment where Ford thought they were missing a brand. They found out that there was a need for such a product, but then proceeded to do no research on the design, features or even the pricing on the Edsel. The cars, amazingly, were first shipped to dealers wrapped in paper so there was not even any dealer input.
I had the privilege of knowing and working with Gayle Warnock, the Ford executive given the unenviable task of promoting and selling the Edsel once it came to market. Gayle used words to describe the experience that would get me a lifetime ban here.
The short version is, as David notes, that Ford wanted a car to slot in between Mercury and Lincoln, to directly compete with Buick and Chrysler (Mercury was seen as direct competition for Oldsmobile, Pontiac, DeSoto and Dodge...Ford as direct competiton for Chevrolet and Plymouth, with Lincoln taking on Cadillac and Imperial).
They did no research. They simply looked at what the other guys were doing and said "how can we top it?" The car became a carrier for design themes and features that didn't work together. It became a caricature of late 50s automotive excess. Ford went so far away from attempting to gauge the public's taste that they hired poet Marianne Moore to come up with names for the car. Her list:
The Ford Silver Sword
Hirundo
Aerundo
Hurricane Hirundo (swallow)
Hurricane Aquila (eagle)
Hurricane Accipter (hawk)
The Impeccable
Symmechromatic
Thunderblender
The Resilient Bullet
Intelligent Bullet
Bullet Cloisoné
Bullet Lavolta
The Intelligent Whale
The Ford Fabergé (That there is also a perfume Fabergé seems to me to do no harm, for here allusion is to the original silversmith)
The Arc-en-Ciel (the rainbow)
Arcenciel
Mongoose Civique
Anticipator
Regna Racer (couronne a couronne) sovereign to sovereign
Aeroterre
Fée Rapide (Aerofee, Aero Faire, Fee Aiglette, Magi-faire) Comme Il Faire
Tonnere Alifère (winged thunder)
Aliforme Alifère (wing-slender a-wing)
Turbotorc (used as an adjective by Plymouth)
Thunderbird Allié (Cousin Thunderbird)
Thunder Crester
Dearborn Diamanté
Magigravure
Pastelogram
Regina-Rex
Taper Racer
Varsity Stroke
Angelastro
Astranaut
Chaparral
Tir á l'arc (bull's eye)
Cresta Lark
Triskelion (three legs running)
Pluma Piluma (hairfine, feather-foot)
Adante con Moto (description of a good motor?)
Turcotinga (turqoise cotinga-the cotinga being a South-American finch or sparrow) solid indigo.
Utopian Turtletop
Perhaps the only smart thing the Ford crew did in the entire Edsel program was to throw the list away. They named the car after Henry Ford's son Edsel, instead.
They ended up with an ugly car with an unattractive name.
The Edsel is what happens when you rely on your own assumption of what the public wants instead of asking them.
Gayle Warnock got his pound of flesh from the guys at Ford for putting him through that. He made sure they did absolutely everything right on his next big car launch: The 1967 Mercury Cougar. The result of three years of research based on a stated demand from customers for something the size of the Mustang but with more of a luxury feel.