Market research is frequently a part of the mix of activities I’ll tackle for client projects, and often with considerable caution.
Howard Schultz, founder of Starbucks and now its returned CEO, says:
I despise research. I think it’s a crutch.
I usually like agreeing with Mr. Schultz, but I don’t despise research. His extreme statement serves, however, to expose the danger of misusing market research.
If market research is nothing more than listening to the marketplace, aggregating the messages and sentiments, and giving the market what it seems to want, then that sort of research should be despised. It leads to product parity, at best.
If, on the other hand, research is listening to the marketplace, carefully and insightfully analyzing their pulse and pressure points, and then creatively and imaginatively uncovering unmet and even unarticulated needs, well that sort of market research is a powerful tool.
It’s the seeds of innovation, really.