Marketing research helps in collecting the useful information that facilitate decision making. It is one of the functions of marketing. Marketing research functions include;
- Exploring and identifying marketing opportunities
Marketing research helps in analyzing the habits, advertisement and its effectiveness, popularity of the product etc. The scope of marketing research is very wide. It may cover all the areas of business which have impact on the marketing function.
- Product planning and development.
Marketing research identify the needs of the customers, increasing the sale of the product, storage and transportation activities etc. Therefore, it is necessary to plan and develop products which meet the specifications of the customers. Marketing planning is used to develop and define the marketing objectives and make strategies and plans to fulfill or achieve the set objectives. Products are the foundation of any marketing programme. In this we make the important decision like what, why, when to produce, how to produce i.e the production technique to be used, the design, size, quality shape of the product etc.