Marketing Research

Marketers must know the wants and needs of consumers. They must know how to effectively communicate to consumers, and they must know how to best deliver goods and services.

Marketing research is a part of marketing; it provides the necessary information to enable managers to market ideas, goods, and services properly. In order to make the right decisions, managers must have objectives, accurate, and timely information.

Having the information to implement a strategy at a point in time is not enough. As environments change, business decisions must be revised again and again to produce the right strategy for the new environment.

Marketing research is the systematic gathering, recording, and analyzing of data with respect to a particular market, where markets refers to a specific customer group in a specific geographic area.

The purpose of marketing research is to link the consumer to the marketer by providing information that can be used in marketing decisions.

The uses of marketing research

• Identifying Market Opportunities and Problems
• Generate, Refine, and Evaluate Potential Marketing Actions
• Monitor Marketing Performance
• Improve Marketing as a Process