Marketing Research in Modern Business

In order for the enterprise to become successful, management must know what the consumer needs. Get the most information will help tools such as marketing research.

Marketing research is nothing more than the collection, display and analysis of information on a variety of marketing aspects. Also, by this is meant a function that links, through information of the enterprise, to consumers, markets, competitors.

These studies use information that is derived from primary and secondary data. Primary data are obtained by conducting so-called field experiments through observations, surveys, etc. Secondary data are not the result of research and can be obtained earlier than the marketing research was started. But despite this, secondary information has a number of advantages: first, it can be obtained much faster, in comparison with the same experiments; Secondly, the cost of obtaining them is negligible; Thirdly, significantly increase the efficiency of primary information.

In large enterprises, all research is combined into large Marketing Information Systems, which in turn are part of a larger information system for the firm.

But is it advisable to hold this event? Such a question arises before every leader. In order to determine how necessary it is to conduct experiments, the firm must constantly monitor the status of its external environment, monitor it, which provides operational information about the state.

The second step is a clear definition of the problem that must be posed before the marketing research. This is the main key to successful experiments. It often happens that firms themselves do not know the problems by giving marketers random ideas that not only do not solve research problems, but can worsen the position of the enterprise.

At the third stage, a selection of methods and methods of conducting experiments. Among such methods, statistical, multidimensional, regression, correlation, simulation, deterministic and hybrid are distinguished.

After choosing the method, it is the turn of the experiment already to carry out direct experiments aimed at obtaining primary information. An experiment is the management of independent variables in order to determine how much they affect dependent variables. One of the experiments is the testing of the market, which consists in testing the products of production through the distribution channels of the goods.

Based on the research findings, the management chooses the optimal development strategy for the firm.