Market Research — Easy or Difficult?

One of the most common misunderstandings is to consider market research as interviewing the people in one’s social or personal circle.
NO!
NO!
NO!
The product needs to be built for the entire customer segment and not just a bunch of people who may have overlapping attributes. If you follow the approach to interview just the known group, there are several reasons for things to go wrong such as — the chosen ones may be the customer but there is no guarantee that they can represent the entire TAM(total addressable market) for the product. Additionally, they may or may not provide accurate data.