No One Wears Shoes

And other marketing blunders

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.  

These include:  

• Looking for ways to justify the exciting new opportunity rather than providing an objective assessment.
• Using the status quo as a baseline and viewing the new idea through this lens.
• Relying on high-level (and typically useless) “Industry Reports’.
• Being concerned about where they, or their co-workers, would fit into a new business line.
• Feeling constrained by the current business model and overlooking new ways to do business. 

 How do you get your market intelligence? Where do you go for objective market research? 

Andrew