Why market research for small business can be dangerous
In this article, let’s briefly discuss why market research can be dangerous for small business owners and should be taken with a grain of salt
In politics there's a term called the shy Tori syndrome. This term dates to the time of a political campaign when in the lead up to a general election in the United Kingdom, people were asked who they plan on voting for.
These pre polls showed that the Labor Party was going to win the election in a landslide. The opposite happened and the Conservative Party or the “Tories” as they're also known, leapt into power.
This phenomenon happens from time to time within politics and the lessons out of this apply to any type of qualitative research.
When I say qualitative, I refer to statements or opinions from people that they have provided when asked about a certain topic - or within market research.
What this tells me is that people are not always honest when asked for their opinion for many reasons; they’re embarrassed, they like to lie or they just don't know the reason behind their opinions.
Someone might ask a question to a Mercedes Benz driver “why do you like driving a Mercedes Benz?”
The answers vary from they’re comfortable, they’re fast, my kids love them, or I love driving a prestigious car.
Regardless of any of these answers, you never really going to understand the true reason because quite often consumers don't really know the real answer either. For this reason, I feel like qualitative research is often a waste.
if any research is to be undertaken, I prefer quantitative. Real facts, real numbers that can be relied on when making decisions or at least making some assumptions.
To be making decisions based on asking people what they like or dislike about a product or service or why they left, or why they joined, I believe is super dangerous and should be taken with a grain of salt.
If you're looking for an experienced and adept marketing consultant for your small business to help you get your business in the public eye, you won't need to look any further than Little Marketing. Contact us here, we can’t wait to hear from you!