XIV. Look at these other methods for assessing available information and collecting new information about your customers. Sort them in the correct category. Can you add any more to the table?

Sources of available date

Collection of new data

Every company should examine their product line carefully at least once a year. The best way to do this is with market research. And, ideally, people in the company should be involved in the research process. Otherwise, you risk becoming out of touch with your target market. My boss, Alison, is always saying ` I don’t think customers would want that. `When did she last speak to one of our customers?

When think of market research, I think of that old saying: ` Begin with the end in mind`. If you want clear results you can use, you have to tell market research firm exactly what you want. Don’t let them be creative or make their own suggestions. Remember: you’re the one in charge.

Market research? I’m sorry, but I think it’s a complete waste of time. I know exactly what my customers need already. The challenge isn’t giving them what they want, but giving it to them at the price that they want.

I think that most companies spend too much time speaking to their customers about what they want, and not enough time looking at their competitors in their own field. Everyone in your focus group might agree that you make the best chocolate bar in the business, but that doesn’t help you sell your products if no one wants to eat chocolate!