Eliminate the cobra effect from your surveys, do market research
Posted: Tue Jan 07, 2025 6:26 am
Many years ago during British rule in India, the British government was very concerned about the number of poisonous cobras in the area. They decided that the solution to the problem was for the inhabitants to kill them, but how could they achieve that? The decision was even simpler.
The government announced to the villagers that it would pay a reasonable amount of money for every cobra head that the villagers brought to the authorities, and boom! matter solved, the Indians began to generate income by hunting cobras and the problem for the British government was reduced and everyone was happy, for a while. Sadly the story does not end there, when the reptile population decreased considerably an enterprising Indian had a great idea.
“Instead of killing all the cobras we have, we will hunt them, breed them and make them reproduce and then we can generate more income.”
Obviously, the British did not like this and suddenly decided to stop paying the reward, so the cobras became worthless and everyone who was dedicated to breeding these animals decided to set them free.
Now the problem was even bigger than before, and instead portugal phone number decreasing, the number of cobras increased. This phenomenon is known as the “Cobra Effect” and occurs when the solution worsens the problem instead of solving it.
I know that deciding what to do can sometimes be difficult, but whatever you do, don't make decisions lightly, especially when the fate of your company or business is at stake.
Market research is essential in decision making, and if you think that successful companies have gotten to where they are by luck, you are completely wrong.
Action plan for good market research.
Assemble a team: It's important to know that we can't do everything ourselves, so assemble a team that is not only committed, but also motivated (even better if they are more motivated than committed). Tip: Find a way to motivate your team to give 110%.
Define your research objectives: Get together with your team and set research objectives. Knowing why you are doing the study is the best way to start, as there is no chance of getting sidetracked along the way. Tip: Set realistic objectives. These may include possible solutions you had at the beginning of the research.
Establish a schedule of activities: Establishing the time of action for each stage is essential to obtain the results in a timely manner. Tip: Do your market research in advance, plan everything for one or two days before the day you have to present the results.
The government announced to the villagers that it would pay a reasonable amount of money for every cobra head that the villagers brought to the authorities, and boom! matter solved, the Indians began to generate income by hunting cobras and the problem for the British government was reduced and everyone was happy, for a while. Sadly the story does not end there, when the reptile population decreased considerably an enterprising Indian had a great idea.
“Instead of killing all the cobras we have, we will hunt them, breed them and make them reproduce and then we can generate more income.”
Obviously, the British did not like this and suddenly decided to stop paying the reward, so the cobras became worthless and everyone who was dedicated to breeding these animals decided to set them free.
Now the problem was even bigger than before, and instead portugal phone number decreasing, the number of cobras increased. This phenomenon is known as the “Cobra Effect” and occurs when the solution worsens the problem instead of solving it.
I know that deciding what to do can sometimes be difficult, but whatever you do, don't make decisions lightly, especially when the fate of your company or business is at stake.
Market research is essential in decision making, and if you think that successful companies have gotten to where they are by luck, you are completely wrong.
Action plan for good market research.
Assemble a team: It's important to know that we can't do everything ourselves, so assemble a team that is not only committed, but also motivated (even better if they are more motivated than committed). Tip: Find a way to motivate your team to give 110%.
Define your research objectives: Get together with your team and set research objectives. Knowing why you are doing the study is the best way to start, as there is no chance of getting sidetracked along the way. Tip: Set realistic objectives. These may include possible solutions you had at the beginning of the research.
Establish a schedule of activities: Establishing the time of action for each stage is essential to obtain the results in a timely manner. Tip: Do your market research in advance, plan everything for one or two days before the day you have to present the results.