Danielle Blugrind, in an interview with Kadence International, gets it spot on when talking about reasons for doing market research.
In short, companies that choose to reduce their market research effort, could lose significant market share. Once they realise they need to do something about it, it could be too late.

“First of all, they’re missing out. They’re missing out on a key component. You don’t know what you don’t know…there is a whole void out there that you have no idea about that could unlock product ideas, promotional ideas, competitive advantage, and you just don’t know because you’re not spending time learning about it.
I could give a million stories about how consumer insights helps us with, like I said, with a product, with positioning, with competitive threats, and dealing with them, because you know you need knowledge for everything else you’re doing in your business. You didn’t go in there and find finance people who know nothing about finance. They have knowledge in that area. You need that knowledge, and you need this consumer knowledge, too. It’s an integral piece that not everybody recognises.
Don’t wait until you’re in a slump…because there’s a new competitive threat out there or your products aren’t selling… You’ve lost…that insight as to what was going on. Or maybe they would have seen it coming. Maybe there would have been red flags coming up and you’re missing that opportunity to gather that intelligence on an ongoing basis. And if you wait until you’re in a crisis position, you’re in trouble.”
-Danielle Blugrind
Kadence International. Podcaste
In our view, not only should they be doing market research, they should be using implicit response testing to dig even deeper into their market.
Latest Posts
Join Our Newsletter
Subscribe to our email newsletter to keep up to date with our latest insights, news, and findings on market research, implicit testing and our occasional psychological ‘neuro-nuggets’ of wisdom.
Our blog

Can You Love and Hate the Same Thing?
Ambivalence When Love and Hate Collide Contact our team Psychologists have long suspected that the human mind can be home to some awkward roommates –

The Truth Gap in Market Research for Performance Marketing World
[image: Performance Marketing World] Are your consumers really telling you the truth …or just what they think you want to hear? In a new piece

Split Second Research | 10 Years of Innovation
Split Second Research Turns 10! 🎉 A decade of innovation, resilience, and groundbreaking achievements! As we celebrate our 10th anniversary, we’re proud to share some