The origins of the MicroSave “Market Research for MicroFinance” (MR4MF) approach to product development lies in the belief that a market-led financial institution must assess its clients’ needs. The MR4MF approach requires careful planning and technical skills. This note outlines the complexities and challenges associated with market research and lists seven cautions, which should be kept in mind while undertaking a research. MR4MF is used for a wide variety of application, which is discussed in the note. In order to get the best of the MR4MF approach, training is essential. An overview of the MR4MF training given by MicroSave is also outlined in the note.