Market surveys may misguide…

Research processes undergo a rubric starting by first analysing the process and then moving on to observation. This observation step is assumed to play a very crucial role in directing the analysis towards the concluding results but the predicament is weather these observations are really accurate or not. In an organized approach followed by almost all companies, various market surveys are conducted and these play a pivotal role to draw inferences from observations but what if these observations are not really reflecting the need? Would these probable results be really helpful? How would they impact the desired output?

There have been many a times when surveys have paved the path for a company to opt the best strategies, to achieve the best possible result but unfortunately, it does not always help as many a times the surveys are not accurate. The samples do not always give a true projection of population or there is a mismatch between recorded response and the actual answers.

If we consider the companies like Apple where they gauge the market need more on the basis of their intuition rather than asking their potential customers, taking in consideration their requirements but surprisingly they are always able to catch the nerve of the customers and that too so well .It is very much evident by the long queues seen outside their stores before the launch of any of their new products and also by the sales of their products then always touch a new record. Whereas on the other side, we can also find companies who rely on the mundane observations made by the surveys which many a times lead to inappropriate product launch.

In a nutshell, a business is not always successful because of the surveys conducted and the inferences drawn but sometimes by the gut feelings also. Therefore the interpretation should not always be done solely on the basis of surveys but also by the intuition gained after substantial experience.

By,

Akshay Sharma_SecA_PGP13008_Group9

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