Marketing research

​Today, information has become a strategic source for any organization. Owning or acquiring full, relevant, and up-to-date information can be a competitive advantage for any business. In order to have an effective company’s activities, decision-making processes, and the use of market opportunities, the need to have an accurate and systematic information system is essential through marketing research. Failure to conduct marketing research, before making a decision in an organization, adopting a business strategy or starting an investment in a business is like “Someone who wants to drive from one city to another with no map and driving signs. In fact, marketing research seeks to identify and analyze those kind of information which leads to find a better opportunities to supply goods or provide special services for the consumers, identify the problems and threats or offers solutions to solve the problems. Market research play some roles which has effects on all the decisions regarding organization’s orientation, and below you can find number of them:

• Find the most suitable methods and requirements for implementing promotional campaigns
• Predict the demand for sales during the planning and determine an appropriate pricing strategy that leads to make profit and return on investment in the best way.
• Better communication with target market and special attention to the social, psychological and emotional dimension of consumer consumption and product purchasing based on customers’ demands.
• Discover new markets, expand the current products or services and more development.
• And dozens of other items that help businesses achieve goals and communicate better with their consumers.