What's marketing research?

Marketing research :

The purpose of marketing research (MR) is to provide management with relevant, accurate, reliable, valid, and up to date market information.

Competitive marketing environment and the ever-increasing costs attributed to poor decision making require that marketing research provide sound information.

Sound decisions are not based on gut feeling, intuition, or even pure judgment.

Managers make numerous strategic and tactical decisions in the process of identifying and satisfying customer needs.

They make decisions about potential opportunities, target market selection, MARKETING segmentation, planning and implementing marketing programs, marketing performance, and control.

These decisions are complicated by interactions between the controllable marketing variables of product, pricing, promotion, and distribution. Further complications are added by uncontrollable environmental factors such as general economic conditions, technology, public policies and laws, political environment, competition, and social and cultural changes. Another factor in this mix is the complexity of consumers. Marketing research helps the marketing manager link the marketing variables with the environment and the consumers. marketing research helps remove some of the uncertainty by providing relevant information about the marketing variables, environment, and consumers. In the absence of relevant information, consumers' response to marketing programs cannot be predicted reliably or accurately.

Ongoing marketing research programs provide information on controllable and non-controllable factors and consumers; this information enhances the effectiveness of decisions made by marketing managers. by SEO ,

Marketing research in the Dominican Republic .