According to startup failure studies, the #1 reason new ventures and product launches fail is "building something nobody actually wants or is willing to pay for."
Market research is insurance for your capital. Spending a modest amount on deep customer research before engineering code or ordering inventory guarantees that you are solving genuine, urgent problems with validated willingness to pay.
Testing Pricing Elasticity in Indian Markets
Indian consumers are notoriously value-conscious. Testing price sensitivity through structured Van Westendorp price sensitivity meters reveals the exact price corridor where your product is perceived as neither suspiciously cheap nor prohibitively expensive.