Better known as instinct matched with timing. Luck, a primary characteristic of entrepreneurship (along with risk taking), has a mystical power that cannot be quantified by market research and analytics.
Sometimes products succeed in Myanmar for reasons that just cannot be explained. Try as they might, market research is more likely to be selective confirmation of bias and transference on the part of the researcher.
The point is, don’t let Market Researchers usurp the role of the entrepreneur because they are usually wrong. Remember New Coke? That was the brain child of market researchers.
Philip Graves says it more accurately, “At present, consumer research has been allowed to creep in as a substitute for entrepreneurial judgement when it has no right to do so. It is the imagination, tenacity and of such people that lead to their ability to capitalize on opportunities. Not some mystical power to see inside the mind of consumers and deliver something to them that they didn’t know they needed.”
And in Myanmar, if you want to know the secret of the success of most of the successful companies, it was not NOT market research. At least not in the traditional sense. What really enabled their success was their ability to conduct live trials. If it sold it worked and if it did not, hind sight provided 50 reasons why not.
For more on why you failed in Myanmar, visit my post 8 Reasons Why You Failed In Myanmar.
Does that mean market research is redundant in Myanmar? Nope, but it needs to be contextualized to the market culture and climate and be seen as a tool among many for the successful launch of your product or service.
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