The term “market research” is both a misunderstood term and a holdover from the old days of consumer marketing. People think that broad quantitative market reports or focus groups or surveys are going to give them insight.

Today, I think about customer research, user research, buyer research etc., all variations of ethnographic and qualitiative research to gain real insights into what people really need. It’s a real discipline that isn’t really taught anywhere, but when learned and applied correctly has value beyond product requirements and can benefit pricing, positioning, messaging, partnerships and more. These insights, when properly understood are rocket fuel for product and business success.