An example of the dangers of haphazard market research is the case of Blockbuster, which did not anticipate the rise of streaming services like Netflix and Hulu. The company conducted market research, but it was limited to customer feedback on in-store experiences and did not take into account changes in technology and consumer behavior. This incomplete and outdated research left Blockbuster with more questions than answers, resulting in the company failing to adapt to the changing market.

Haphazardly conducted market research can leave more questions than answers due to several reasons. Without a clear research plan and a defined set of research objectives, the research can be unfocused and lack direction. Without appropriate research methods and techniques, the data collected may be biased, leading to inaccurate conclusions. Additionally, if the data is not analyzed properly, it can be challenging to interpret and draw meaningful insights. Lastly, if the research is conducted in isolation and not compared to other research or market trends, it may not provide a complete picture of the market or industry.

Market research is a diverse field, with many different approaches to gathering insights about consumers and markets. While traditional methods like surveys, in-depth interviews, panel surveys, and focus groups remain popular, there are many other methods that companies may not be aware of. These methods include SEO analysis, ad campaign testing, secondary research, content analysis, and competitive intelligence.