Does Your Market Research Match The Facts
Market research is a funny thing. As entrepreneurs or leaders, we all understand it’s needed, but sometimes we go about it the wrong way. Case in point is the video below from The Daily Ticker.
Now, as far as I understand, these guys are experts in their field. And I am in NO WAY saying that they are not, nor am I saying anything bad about them. (Insert legal disclaimer here.) The discussion is about how Wendy’s recently surpassed Burger King as the nation’s number-two hamburger chain. Dan and Aaron go into all of the “research” as to how it happened. Watch for at least a few.
If you can’t view the video, click here.
But what I find HILARious are the comments from the folks below the video. Click here to see them. Essentially what people say has nothing to do with market research or even market strategy. Some of the comments are:
- “McDonald’s and burger [King] are both disgusting now. The food quality, cleanliness & service have gone downhill faster than a bobsled team. Wendy’s has gotten a lot better recently & i love the expanded menu items.”
- “If you have eaten at both places, you really don’t need any more insight on how Wendy’s beat Burger King.”
- “BK executives need to visit a local BK and actually eat the food. Hope they get as sick as i did.”
Once again, I’m not the expert here. There may be someone down in there that feels differently about this discussion and they commented. I just didn’t see it. :-) All I’m sayin’ is that sometimes all the market research in the world doesn’t matter. Sometimes, the “experts” need to just ask … well … the experts! Learn from those who know first-hand: the folks who patronize or have patronized these establishments.
A simple focus group can tell you what you need to know. Asking your customers why your product is good or … sucks can tell you considerably more than stats from your latest marketing campaign.
Question: Do you agree with the experts or the commenters?