It’s not often that Benny Hill is quoted in management or marketing textbooks, but this short clip highlights some of the dangers in making sweeping assumptions, and still makes me smile even today.
I come across many young people who are thinking of starting out in business through my work as a volunteer Business Mentor with the Prince’s Trust. We work with them through the Exploring Enterprise Programme to help them make sure there’s a market for the product or service they are looking to sell through their business.
The Market Research Society defines research as
“one of the most useful tools in business, any business. It is the way in which organisations find out what their customers and potential customers need, want and care about.”
Good business and marketing decisions come from good insight- developing a solid and compelling fact base about your target customer that allows you to understand their needs and wants better than anyone else. “Gut feel” is great, but any business that runs on this alone is a risky one in my opinion.
As it’s the weekend and the sun’s shining, I’ll hand over to Benny, to explain the dangers of assumption…