What is the role of Marketing Research?

What role can marketing research play in providing the information needed?

• Answer:

  Market research can be defined as "the implementation of subjective and objective research methods, whose aim is to collect information and analyse it. This information constitutes the basis that enables marketers to (re)define and evaluate their strategies". This information is generally concerning behaviour, attitudes and motivations of a particular target group. Market research is the first step before any decisions are taken. As a supplier of information its role is only effective if it enables companies to make useful marketing decisions. Research is conducted throughout the marketing process: at each stage the reactions of the target public, after being analysed, enable one to review the policies.