The four best (and worst) uses of market research
Taddy Hall
Experience and research suggest that many CEOs look for growth in the wrong places and in the wrong ways, thereby missing opportunities and leaving them for the newbies. In a sense, though, this is good news: success lies in doing things differently, not spending more.
Specifically, there are four approaches organizations often take, none of which reliably lead to the actionable insights that business leaders need:
- Seek and profile large, growing and profitable markets
- Solicit feedback from current best customers
- Segment markets based on customer attributes, such as demographics,...