I wrote a great post about The Importance of Market Research over at Original Thought.
One of the best examples from my past experience was when a client wanted to apply for a government grant. They had an idea of who they thought their target market was and wanted to put that on their grant application form. After finding out that the number was more of a guess than based on hard facts, I asked for some time to complete some market research to find a more accurate demographic profile for them. After a full week and 60+ hours later, I was able to prove that their demographic was about 10 years younger than they thought and included more Gen Y than originally planned for.
Check out the post and let me know what you think.
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