The importance of marketing research

Marketing research is a process of gathering, organizing, recording, analyzing of data systematically about the consumers or the customers, competitors and in the market. It interrogates about other capitalists, marketing structure, the government policies, technological advances and the economic trends. These are the common aspects of business environment. The market research also refers to the financial analysis of the whole company because the companies profit depends on the kind and quality of product they produce. In a company, the stability factor of the business is the most critical part.
According to the capitalism concept, once a business is opened, a lot of risks must also be considered. The stability of the company depends mainly on the product they produce. The factors that must be considered are the quality, edge to other company’s same products, stability to the market and the kind of promotion of the products. Though the company has a good marketing, it doesn’t mean that it will just stop in that point and just continue producing the product. This is a big argument especially when a memorandum saying, “Marketing research is not really necessary as long as you have a good marketing.
” was sent to the marketing research manager. The company should adjust and target the current needs of today’s condition. Also, with the marketing research, the companies will learn more about the current and potential customers. The company should not just stick to one product because sometimes, the market demands more advanced and suitable product to adjust on the current condition. Also, the advertising research which is a specialized form of market research should also be improved from time to time. The company must always be practical with making business decisions.

This means that a market research is a necessary in the company. This will serve as the voice of the consumers in the company. The company must always have an alternative plan through the help of the market research. In additional, the market research provides the current condition of the company, the trends regarding the product, the competitors of the same product and what are the responses of the consumers when it comes to quality of the product.
REFERENCE .Marketing research. Retrieved May 3, 2007, http://www. quickmba. com/marketing/research/.

Don't use plagiarized sources. Get Your Custom Essay on
The importance of marketing research
Just from $13/Page
Order Essay
Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
error: Content is protected !!
Live Chat 1 763 309 4299EmailWhatsApp

Order your essay today and save 15% with the discount code GINGER