In
this issue:
 Market research is sometimes misunderstood by business-to-business and business-to-government executives who haven’t yet had the opportunity to utilize it as a business intelligence tool for driving performance improvements.
Below are some of the more common misconceptions:
• Market research is nothing but smoke and mirrors.
• Research is highly technical – we won’t be able to relate to it.
• Market research is not tied to any measures of value or tangible outcomes. • A research firm wouldn’t understand our business. • We used a research supplier once – that didn’t work out well. Click below for our explanations of why they are false.
Some companies make the assumption that the products or
 services that sell the best are those the market wants the most. They often base these assumptions on sales data or on the feedback of a few customers or business development (BD) staff members. However, sales data doesn’t tell you if customers are buying more of one offering over another because they have a greater need for it, or because they are completely or partially unaware of your other offerings. Furthermore, it’s the most vocal clients and BD folks that get heard. And, such anecdotal evidence rarely yields the level of insight or diversity of opinion required to guide an organization’s strategic planning and investments. | 
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