International Marketing, Exam Question (Marketing Research ) - Essay Example

Its main purpose is to reduce uncertainty when marketing strategy is being planned, and to monitor performance after the strategy has been put into operation. It has a key role in decision making, either with a continuous flow of data or dipstick information”. (Birn, J.R., 2003). Through product research information with regard to the design, development and testing of new products, the improvements required to existing products, forecast of likely trend in customer preferences with aspects to the style, quality and performance of the product, is gained.

It also provides information on the products of competitors in the market place and thereby provides the means for a comparative analysis. Market Research at the customer level, by means of investigation into the social, economic and psychological influences that play on the consumers, gives a better understanding of customer behaviour and preferences in the market place. Market research into the promotional activities at the market place give insight into the nature of promotional activities at the market place and the success or lack of it, as far as the promotional activities of the business enterprise is concerned.

Marketing research is capable of providing a wide range of information that helps to reduce the uncertainties of the market place. That remains its role and purpose. Marketing research does not take decisions regarding activities at the market place. These decisions are to be made by the marketing managers, marketing research provides objective information that has been collected in a objective manner to assist the managers make their decisions and the success of the decisions depends on how well the information has been utilised to arrive at the decisions.

(Carson, D., Gilmore, A., Perry, C., & Gronhaug, K., 2001). The relevance of marketing research has gained importance with the changes that have occurred, both in the manner in which information can be gathered and disseminated and with