Hello, has it ever happened to you that you were ever going to bring your new product into the market?
Someone was about to start a new business but you didn’t because your market research didn’t support you.
Maybe people have told you that this thing doesn’t work here, it doesn’t work here, it won’t say it here, people won’t buy it, and so on and so forth.
Disadvantages of market research
Market research is a great thing.
And there are sometimes consequences of not conducting market research.
But many times it should go against the market research. And we should dive into that place.
When to do market research
Let me share a story with you.
You may have heard the name Hendy Ford.
Hendy Ford was an American industrialist.
And he didn’t invent the car himself, but he gave the world a car.
They have given us millions of cars in the world.
This is the guy who invented mess production.
That’s why they slowed down or drove out and drove out in the thousands.
And then gave it to people and then it became a normal thing.
Once when he was being interviewed, he said that if I listened to people and asked what they wanted, they would tell me that we need fast horses.
We need faster running horses. They don’t say we need a car at all.
So essentially he provided us the far better.
Real Life Example
Another example you have to see is what Nokia Nokia used to do to you everywhere and when iPhones and smartphones came into the market, Nokia people didn’t notice that this is also something that has an important role to play.
A friend of ours said to his father, “Let me get you a new phone from a shop. That was ten years ago today.”
I took them to a new store or I was very happy that they would make a smartphone and they would come from Nokia to a smartphone.
But he put his finger on the same old Nokia phone.
But it wasn’t bad for them and it was great.
It had been four to five years since it came on the market.
He was saying that I have to take the same one.
Fear you Face
So I told him that Father can take the phone, he can take the phone with the movie and he can take the phone with many applications, then why Nokia?
But he said that’s all I wanted, but then when I asked for the price, it was تین 300 at the time, which was about the same as an iPhone.
Because they had an old habit and they were more comfortable with it.
And she hoped that I would not use Android phones. This is a new call.
A few years later, his brother gave his mother Abu an iPhone as a gift.
And when his mother was in England and then his father was in Pakistan, he was talking on the show and also making video calls, so if I bring him ten nooks and crannies, he won’t take the job. Rather, she will not take the iPhone.
So sometimes there is resistance in the market that when people do not know about something, they are afraid to use it.
Let me give you another example that when there were Chinese restaurants in Pakistan, people thought that they did not know if they would feed us dogs or cats.
But there were some brave people who tried it and now every day kids say we have to go eat Chinese.
Occasionally there is a change of heart.
One thing I want to tell you is to remember one thing that it should never happen if you go somewhere after five or ten years.
If you look at any business, don’t think that this idea came to my mind, so why didn’t I do it.
Dude, that’s what I’m going to do. I didn’t do that because I listened to people.
You’ll be sad that I didn’t do it.
And I don’t want you to be so sad that you come back to zero.
We will not be harmed at this time, but we cannot erase this sorrow at this time.
I hope you like this Strategy about Market Research. That was a good suggestion.
I hope you have the courage to do something about it now. Whatever idea I have, I have to do something with it.
It will be seen whether it will work or not.
See you in the next post will take care of you. Good Bye.