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Last Updated: Sep 2009
Last Updated: Sep 2009
Rather, smart marketing decisions require the use of knowledge gained from many areas, including management's own judgment of what is best. But being cautious with how research is used should not diminish the need for conducting research that aids marketing decisions. As noted, research should help support decisions in all key marketing areas.
In many ways the foundation of marketing rests with marketing research since nearly all tactical decisions require some amount of research. However, research does not have to be elaborate to be effective. Sometimes small efforts, such as doing a quick search on the Internet, will provide the needed information.
The knowledge gained from research helps marketers make more informed decisions. Market research does this by giving marketers a picture of what is occurring (or likely to occur) and offering alternatives from which choices can be made. For instance, good research may suggest multiple options for introducing new products or entering new markets. In most cases marketing decisions prove less risky (though they are never risk free!) when the marketer can select from more than one option.
However, as sophisticated as research is today, marketers are cautioned not to use marketing research as the only tool for making marketing decisions. It may prove costly for the results of marketing studies to be the lone reason why decisions are made.
The knowledge gained from research helps marketers make more informed decisions. Market research does this by giving marketers a picture of what is occurring (or likely to occur) and offering alternatives from which choices can be made. For instance, good research may suggest multiple options for introducing new products or entering new markets. In most cases marketing decisions prove less risky (though they are never risk free!) when the marketer can select from more than one option.
However, as sophisticated as research is today, marketers are cautioned not to use marketing research as the only tool for making marketing decisions. It may prove costly for the results of marketing studies to be the lone reason why decisions are made.
