SmallBusinessNewz

Imagine for a moment that Ford had stuck with the Model T from 1908 through today.  The company would be fantastic at making them by now, pumping the things out quickly and for little money, but the car would still fail to meet most consumers' needs.  Market research represents an important solution to this problem.

Okay, okay - that wasn't the greatest metaphor, given that Model Ts wouldn't meet current federal regulations and technological progress isn't the same thing as a change in what's fashionable.  Also, more than a few people would probably relish the chance to own one of the crazy old vehicles.

Still, Geoff Ramsey, the CEO of eMarketer, pointed out yesterday, "With the economy clouding the future, why throw away your flashlight when it could shine on intriguing consumer insights, hot technology trends and market opportunities?

Ramsey also wrote, "Market research can help you preserve budgets, projects and even people."

So, even if you don't have a formal market research team wearing lab coats and carrying clipboards, continue to ask customers, friends, and family members what they do and don't like about your business and aspects you might change.  This practice could keep you from offering your industry's equivalent of a rattling carriage.