The Daily Tidbit

Bit #5

"Market research can establish beyond the shadow of a doubt that the egg is a sorry product and that it obviously will not continue to sell. Because, after all, eggs won't stand up by themselves, they roll too easily, are too easily broken, require special packaging, look alike, are difficult to open, won't stack on the shelf."
-Robert Pliskin

While market research can offer some very valuable information, you need to balance it with your own experience and intuition. The only way to know for sure is to test if real people using real money are willing to actually purchase what you are offering.

You can cheaply test an expensive project by running advertisements that offer more information about your proposed product. If the response is positive and the price points are acceptable, you can invest fully in the project knowing there is at least some true demand.

Put your faith in what the market does, not what the market says.

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