What the eyes don't see, the heart can't feel: The need for market research to drive innovation

Kartikeya Kompella
Kartik Kompella Associates, India

Introduction: The importance of belief

Brands are created based on belief. The belief that one has an insight into the minds of a target segment that no one else has tapped into, the belief that one has spotted an opportunity that existing players have not yet seen, the belief that one has a better product or service than that of competition or even the belief that one has a better philosophy for their offerings.

Without belief, there is no hope and without hope no one can start a business or build a brand. Without belief the Steves (Jobs and Wozniak) could never have thought of starting Apple; Dr. Pemberton would never had sold Coca-Cola and the third place may never have existed.

It's because of people and organizations with belief that inspirational new products and innovative brands emerge. New ideas coupled with belief lead to new category creation and fragmentation of existing categories.