Market Research still important in time of economic downturn

Carol Ann Morgan recently wrote a post at the Thursday Night Insight blog citing the importance market research still has during this time of economic downturn. When she was out to dinner with one of her friends in the construction industry, they began discussing his current efforts, and she realized he was investing in marketing and market research. He saw it as a way to keep his business going in the future, not just a temporary fix. Morgan brought up a very valid point. Marketing and market research are vital in this time of downturn. Not only can it increase your presence in the customers mind, but keeping up market research allows you to better understand the current state of your customer. You can then take their new needs and try to fulfill them, it's also a way to increase customer loyalty and keep customers satisfied. These little things can be found by doing the research to find out what your customers need. Is market research still progressing in your company? What effects have you seen the current economic state take on the state of the market research industry?