Is market research worth the cost?

Is market research worth the cost?

William A. Cohen (Author & Founder, Institute of Leader Arts) gives expert video advice on: What are the steps involved in market research?; What are tips for designing a survey? and more...

Well, sure, if it gives you the right answer. You have to tailor it into what your project is. The first thing you want to do is you want to say, "What am I trying to do? What's my objective in this whole thing?" And then determine whether even market research is necessary, and if so, what kind it is. But I don't think you can say it will cost this much or that much. You can tailor the amount of research and tailor the kind of research to the objective you're trying to achieve. And that's the basic thing. What are you trying to find out? What and why. What is is that you want to know?