There might be some rudimentary data collection andfeedbackanalysis, but there is not a real process in place to analyze the data and put improvements into action based on the feedback.
It is important to be open-minded and adaptable when conducting market analysis as some of the feedback you hear may not be exactly what you were expecting and hoping for.
Rarely do I meet a startup founder who has a great idea, has done a basic analysis, created a business plan, and also called 10 potential customers to get their feedbackand see if someone would actually like to buy the product or service.