I am starting up a retail business buying and selling-on boxes of a product. Before I start committing to supply and delivery contracts I want to be sure that there is demand for my product and so I look at the market.
All customers who can be contacted express no desire for the product and that they will never buy the product. The only person saying the product can be sold is my business partner who also sells the goods to me.
The research was conducted with only around 25% of my customers being asked.
What do I do:-
(a) Press ahead with the manufacture of the product in the hope that the large sample of people researched is somehow not reprentative of any other fans?
(b) Forget about the idea and walk away?
Well, after going for option "a" (why?) the business falls flat on its face. Despite entering into contracts the customers do not buy the product.
Do I:-
(a) Take full responsiblity for not trusting the market research, accept that the gamble did not work and walk away?
(b) Publicly criticise the customers for not buying the product (???) in an attempt to get them to buy it?