Market research is about listening to others and you have to do it yourself, not someone else. Only you have the drive, determination and insight, they will not have the motivation to absorb the necessary information. If you hire another market research company, you will be provided with a glossy report with a lot of information, but it is best to do it yourself to know the important issues behind this information. Moreover, when you do market research yourself, you will find unexpected inspiration.
You will come across very small details that a less passionate professional would easily miss. In other words, you need to figure out the feasibility of the idea yourself.
This process of learning will help you notice things you may not have noticed before. As you digest this information, you will create the conditions for new ideas to continue to develop. This combination will increase “push” and you will begin to form a clearer plan of action.
One of the best ways to learn about the market is to become a regular customer of your competitors. This is the best way to learn about the challenges you will face before your business idea becomes a reality. You need to understand the competitive landscape in the market as well as your idea. This time as a regular customer will inspire you, keep you excited and keep you imagining what you can offer your customers in the future.
Of course there will be others who do the same as you, it's fair game.
If you are starting a business, don’t waste your money hiring a company to ask a select group of customers about their behavior in certain situations on your behalf. Save your money and use it to develop your product. The role of an entrepreneur is to serve needs that customers themselves don’t yet understand but would love to satisfy. Furthermore, being unconventional and having the courage to believe in your convictions is part of the journey of being a successful entrepreneur. Don’t forget that you are a pioneer!
According to Saigon Businessman Weekend
