Before breaking into market research and study, one should be aware of the most common mistakes associated with researching, analyzing and applying information. Only those researchers who are aware of potential mistakes and the most wide-spread cognitive biases can avoid them easily and deliver a high-quality research.
First of all, “confirmation bias is one of the most common cognitive biases for entrepreneurs”, in particular for those who are dedicated to and passionate about what they do (qtd. in Forbes.com). To put it otherwise, an entrepreneur or researcher believes in a particular idea so strongly that he/she does not require any confirmation of this conviction or opinion. The confirmation bias could result into misinterpretation of received facts and information in a manner that only confirms the preconceived belief of an entrepreneur. This common mistake could be avoided “by using more quantitative data than qualitative data” or by employing an independent objective expert to handle and analyze data” (qtd. in Forbes.com).
Another typical mistake in the process of researching the market is the inclination to disregard or ignore new research facts and evidence in case they contradict or undermine data that has been received previously or decisions that have already been made.
The third most common mistake that needs to be avoided is associated with social desirability aspect. In actual fact, it is actually more of a problem for the research subjects than researchers and analysts. “Social desirability bias leads people to make more socially acceptable decisions when in the presence of a researcher than they would if left alone” (qtd. in Forbes.com). Consequently, the received data might be inaccurate and misrepresented in the process of analysis. However, this mistake can be avoided if subjects are tested in a stress-free environment, which is similar to the real one.
All in all, in the course of marketing research, one has to be aware and stay mindful of the above-mentioned mistakes and biases in order to receive accurate and objective information and draw relevant conclusions, recommendation, and prognosis thereon.
Works Cited
DeMers, Jayson. "5 Cognitive Biases To Avoid In Your Market Research." Forbes. Forbes Magazine, 26 May 2015. Web. 03 Feb. 2016. <http://www.forbes.com/sites/jaysondemers/2015/03/26/5-cognitive-biases-to-avoid-in-your-market-research/#398334f37a01>.
