Many years ago, a shoe-maker sent his best sales-person to a developing country to see if there was a market for shoes. He reported back, “The market is terrible – no one wears shoes”.
Not being sure if this was true, the shoe-maker sent a consultant to double check, “The market is fantastic”, he reported, “No one wears shoes!”.
Launching a new product or service or entering a new market requires an objective analysis of the situation you’d be selling into.
Objectivity is crucial - otherwise you risk simply inhaling your own exhaust. Your inside team certainly understands your current products and markets but would inevitably approach the new opportunity with a variety of unconscious biases.
How do you get your market intelligence? Where do you go for objective market research?