Question

Why is marketing research important to marketing executives? Provide several reasons.

Answer 1

Marketing research is "the procedure or set of processes that links the builders, customers, and end users to the marketer through statistics used to locate and define marketing opportunities and problems; create, define, and evaluate marketing activity; detector marketing performance ; and better understanding of marketing as a procedure. Marketing research defines the information required to the results, and interfaces the findings and their implications.

Is the methodical gathering, recording, and examination of qualitative and quantitative data about issues relating to marketing artefacts and favours. The goal of marketing research is to recognize and assess how changing elements of the marketing mix collisions customer behavior. The term is commonly exchanged with market research; however, expert professional may wish to draw a distinction , in that market research is concerned especially with markets, while marketing research is concerned especially about marketing processes.

Marketing executives, also known as marketing officers or marketing administrator, are involved in developing marketing campaign. The focus can be on selling a product, a service or raising consciousness of an issue that affects the public.

Business market research is the process of collecting data to control whether a particular product/ service will satisfy the needs of your customers. With effective market research, your company can gain crucial information about your contestant, economic shifts, demographics, the current market trends and the spending traits of your customers.

All marketers will concur that market research is important. Because the media scenery is in a constant state of flux and marketers are constantly overwhelmed with data and business priorities, though , marketers tend to shave timelines, do "internal" research for their corporation.  

Market research , however ,is crucial to you and your brand's long-term success. Market research will keep your brand buoyant while companies who fail to make research a high priority drown.

All marketers and marketing investigators today have a tough job multitasking and legally so. They are commanding multiple assignments, running businesses, and often playing many roles within their organization. However, when used correctly, marketing research should tell you what's most important to your consumers and help you to prioritize and maximize your time effectively. It can notify both your short-term and long-term marketing playbook, helping you feel less fray and swamp in the long run.