Research Tips

What Would You Do Differently?

Before embarking on any market research project, it’s worth asking yourself what the possible research outcomes might be and what you will do depending on what these research outcomes are. If the actions you will take will be the same regardless of the research results, it’s probably not worth investing in the research. For example, market research can be very useful in helping to determine the optimal price for a new product, but if the price of the product will be the same regardless of what the research shows (because it is set by legislation, fixed by a pre-existing contract, because senior management has made up its mind and is not willing to reconsider, etc.), then research might be able to assist with other aspects of the new product launch, but there would really be no point in doing pricing research.