Marketing Research

Marketing is based on the management process of identifying, anticipating and satisfying customers needs and wants at a profit. Customer’s needs and wants are always changing and businesses operate in a competitive environment. In order to monitor the changing needs of the customer, marketing research is important for a business to remain relevant and to sustain the market for a long time. Research is costly, time consuming and complex, yet it is very important.

Further, Marketing Research is based on a proactive approach to the management of marketing information and the application of that information to marketing decisions. At its best, marketing research can provide you with valuable insights concerning markets, customers, products, and business strategy. Done incorrectly, marketing research can provide the decision maker with a false sense of validity and integrity, leading to misguided and costly decisions.