Why market research gives wrong results - blogging. Customer insight, client surveys and satisfaction ratings. Customer retention and business management issues. Conference keynote lecture.

He has obviosuly been working with the wrong market research companies. Good researchers know how to map the emotional mindset when studying the consumer landscape - research can be a very effective tool in analysing trends and need gaps - his is an emotional but inaccurate assertion

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Is it true that Henry Ford said "if I had listened to my customers, I would have given them faster horses" or is that a myth? I once worked for a good company where the customers always complained that we were too expensive, but they kept buying from us rather than the competitors and we made a load of money. Then the Board commissioned some consultants who did some market research. They said we must cut prices and costs (headcount), but we also cut quality and service, and made heavy losses.

Well...did your firm actually expect that its customers would be happy with inferior quality and service simply because of a lower price ? It seems that what your customers really wanted was the same (or better) quality at cheaper prices.

I don't know what they really expected. I think they just wanted a cost/headcount reduction and, by coincidence, the consultants came up with that as the strategy. I would suggest that what your customers do, is more important that what they say. Yes, we could have sold them a better and cheaper product, and we wouldn't have made as much money. (volume was restricted for all sorts of reasons peculiar the that business)

The truth is that market researchers are becoming redundant. Their skill set isn't the optimal set required for their intended purpose, ie adding value to companies. Science is the future and the time for management speak is fast running out. Most people have always had an aversion to those gobbledigook gurus who profess that which they rarely deliver: the ability to add value.

There are develpments in neuroscience which can tell what people are interested in no matter what they 'say' they are interested in. Eg: a young man was wired up and taken to a sexy ligerie shop and a sports shop selling trainers (sneakers) his verbal resposes were totally different to his the actual interest he showed as revealed by his brain scans. He professed a natural libido driven interest in the sexy stuff and very little in the training shoes,but truly he was more excited by the shoes.

Wow. The guy admitted he lied half the time, and you thank him for his "honesty about market research accuracy." I find this ironic. As a market researcher I condemn the dishonesty committed for personal gain.

The issue for me is not that market research can only see only so much ahead. The real issue for me is how to best use that incremental knowledge to my best advantage. A 5-foot visibility range is better than no visibility at all.