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Why
is it important to do marketing research in today's
business environment?
In today's business world, the cost of making decisions
based solely on "experience" or "gut
feel" can be life threatening. A decision that
is only close or nearly correct can cause a product
or business to fail.
This
is especially true if the competition has done its research
and is only a little more knowledgeable at solving a
marketing problem than you are.
Primary
research can be particularly useful in providing information
to help solve marketing problems falling into one or
more of the following categories:
Once
the marketing problem and the specific information needs
have been defined, then the research objectives can
be identified and the methodology fine-tuned.
It's
then that marketing research can truly begin to solve
marketing problems.
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