How important is Market Research to you?

[GoodfellaEarv]

Every business is different, but we all have to do some type of research. I was just wondering where you guys categorize market research in your priority list.

Do you know what your competitors traffic stats are? Do you know what keywords they are using to get their traffic? Do you even know who most of your competitors are?

I believe that these are vital stats that every entrepreneur should consider. The best way to defeat your competition is to study them inside and out.

What do you guys think about this? What extent of market research do you do(have done) when you're trying to break into an industry or simply grow your business?

[GoodfellaEarv]

Can you guys vote in the poll please? I would really appreciate it!