The big downside of market research is that–when done right–it is time-consuming and can be expensive. I think the real question in the marketplace is how many companies are willing to invest in market research and how many just bypass this step to get to market or to spend their budgets on other things. Most marketers are open to hearing what market research has to say… a lot fewer of them are willing to go to bat for the time and money to actually collect the data they need. Those who do are the ones who are able to actually grow business and win new clients.
Contributor: Kevin Smith from kevinsmith.nyc