Benefits of Market Research

What benefits are there to conducting market research and what are the consequences of not doing so in advance of making a purchase? Be sure to site your source.

As a bonus, here, an entertaining video clip addresses marketing failures from the seller side which does market research related to customers and their interests, desires and needs. View the presentation from the perspective of how the consequences of inadequate market research might have contributed to the failures.

http://www.youtube.com/watch?v=hxRqKgjD3vY

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