Broad match or exact match???

[majors]

i want to know what most of the seo companies do for keyword research???
Like if you want to do seo for a website related to franchise business...
like i see for a broad match for the keyword franchise in india the search shows around 110000...but if i take exact match for that keyword i get only 880 searches...!
m pretty confused over this...!
wat should i do??? should i optimize for that keyword or not??
and if i optimize the search traffic as per exact will be only 880...!
where as another keyword franchise india has around 33000 for exact match...!
do seo companies just pretend that u would get so much traffic for that keyword and its competition is high??? fooling client with broad match??

This is a genuine discussion and need your expertise over it..!

[legolas]

exact match.