Misconceptions of Market Research

While Market Research is a common practice among countless industries, there remains no shortage of misconceptions. While “market research” seems self-explanatory, many fall into believing myths like thinking Market Research can be accomplished via strictly “desk research,” or that online surveys are the most viable method to understand consumer beliefs and attitudes. Below, please find a few commonly held misconceptions of the Market Research Industry. 


Focus groups are always the best method for research

Each research effort presents a unique goal and should be treated as such. While Qualitative research methods such as Focus Groups may be great for testing a new product, it may not be the best methodology for all research efforts. Research that aims to speak with hundreds of participants could see several benefits in utilizing quantitative methods, such as a survey, prior to conducting focus groups to better understand where exactly your entity stands.


Misconceptions of Market Research


Research is only for large companies

The benefits of research can be realized by companies of any size. While research can be expensive, less costly methods such as online surveys can allow smaller companies to reap the same benefits as larger firms while remaining under budget. Research done by smaller firms may help identify gaps in  SPACE  larger competitors’ offerings, help inform decisions, and pin-point customers’ needs.


Anyone can join the research/ research is a reliable side-gig

Often, participants will assume that they are able to join a focus group on any topic. While research will occasionally look for “general population” respondents, most research is looking to target specific characteristics whether it be demographic (ie, age, race, income) or psychographic (ie, attitudes, aspirations,, political slant).

While participating in research can be a nice way to earn a quick dollar, most research projects have requirements that prevent respondents from taking part in research too frequently.


It’s a sales pitch

The primary goal of research is to develop a general understanding and not necessarily to further individual interests of research proctors or participants. A Moderator’s goal during research is to collect insights to better a product or service, NEVER to sell the product or service to you!


My information will get sold

Information collected during market research is used for internal educational purposes. While basic information is collected and temporarily shared during the research, Personal Identifying Information is withheld to protect participants. The U.S Department of Health & Human Services has regulations in place to provide right to participants to ensure that their time and information is valued & protected adequately. 


To avoid falling into the pit traps, it’s best to consult with a professional researcher. Our team at Observation Baltimore can give you insights into the proper techniques and methodologies for qualitative research. If larger, quantitative research is a better fit, our quantitative experts at Ironwood Insights Group can help you get started on your journey to success.

This entry was posted on Tuesday, June 4th, 2024 at 4:19 pm. Both comments and pings are currently closed.

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