The rise in spending on market and consumer research should lead to a decreasing number of failed
products. But in fact, the opposite is the case! So why does market research provide misleading
guidance?
There are two reasons:
● Less Data: People are reticent to provide any kind of personal data.
● Fake Data: Many of those who do provide personal data, provide intentionally inaccurate or
false information to protect their privacy.
This is proven by several studies and reports:
● Giovanni P. et al.
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show in their study, ”Why are people (un)willing to share information“
that on average 55% of all consumers are not comfortable with sharing
any kind of data. This percentage increases to 97% when it comes to private personal data.
● A similar result is found by Till Dziallas
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, who reports that 50% don't like online
surveys and more than 40% don't participate in them.
● A report from Mindi Chahal in the Marketing Week shows that 60% of consumers are
providing false information, the main reason being to protect their privacy