Soccerepe is a website about Marketing, Agriculture, Social Science, Economics, Science And Technology

Tuesday, 11 September 2018

The Need for Marketing Research In Organisation

No organisation can succeed, grow or survive without marketing research. The function of marketing research is to provide information that will assist marketing managers in making decisions. Effective marketing decisions are based on sound information. Information is needed both to help identify problems and to solve them once they have been identified.
   Marketing research helps to develop informations that will be useful to managers. Today many forces dictate that every firm have access to timely information. Some of these forces includes :

(1) competitive pressure : to be competitive, companies must develop and market new products more quickly than ever before.

(2) Expanding markets : marketing activity is becoming increasingly complex and broader in scope as more firms operating both domestic and foreign markets

(3) Cost of mistake : introducing a marketing a new product is enormously expensive. A product failure can cause severe and even fatal damage to a firm.

(4) Growing customer expectations : the lack of timely adequate information about a problem with respect to some aspect of an organization's marketing program can result in lost business. (Cannon 1996).

No comments: