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Why Market Research?

Sean Parnell – Thursday, November 01, 2012


Market ResearchIf the market is large and growing, we can become millionaires if we just show up and only get 5% market share, right? Wrong.

One of our clients (who shall remain nameless) exhibited this "Show Up and Win" mentality and launched a series of new products without once asking their customers what they wanted or their distribution channel partners if they would sell these new products over the existing products they had sold for years. The result: even in an exponentially growing market, they could only win <1% of the overall market. Why?

 
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