‘Many research studies have failed to understand consumer needs, in spite of the best of their abilities.’ This statement creates a fundamental doubt about the value of undertaking marketing research....

‘Many research studies have failed to understand consumer needs, in spite of the best of their abilities.’ This statement creates a fundamental doubt about the value of undertaking marketing research. Explain the implications of this statement for an entrepreneur who is interested in taking up a detailed marketing research for their product before making a decision to take it up or otherwise.