The Process of Marketing Research Decides the Fate of Your Product!

Business firms, whether they are involved in manufacturing goods or providing services, need to understand the importance of marketing research that will give a fair idea of ​​their area of ​​operation and scope of development. Let me first clarify the clear distinction between market research and marketing research. While market research is limited to a market including its potential and actual buyers, a marketing research covers all areas of marketing including marketing.

Identifying and satisfying consumer needs is essential to the emergence of a buyer’s market. Although firms produce products that are competitive in terms of quality and price, it is the middleman, the connecting factor between the manufacturer and the wholesaler or retailer, who has a strong hold on distribution, which determines the volume of sales. is affected. Extensive marketing research will help firms address such middleman and distribution problems.

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