How formal show market research be when considering a startup? For Jasons past ideas, only 10-20% of friends understood his idea, 50% didnt understand at all, he tends to look early adopter trends. Focus on what inspired you to the idea, what problem are you solving. Sky generally doesn't use market research but looks at what ways to position his idea and how to price.
Craigs idea is an iPhone app for men/husbands to help them decide what to buy for their wife or girlfriend. Sky recommends to think like the consumer. A better approach maybe to leverage your wifes social network to help the idea succeed. Think of an app as an extension of a website.