At the time when businesses were limited in terms of its customers, revenues, globes as well as its functions, gathering information or having research was not that much important. Also, business functions were not in the trend. Everything was centric and decision making was not so dynamic as what we see today. By the course of time and advancement in customer satisfaction, customer retention, generating huge sales and revenues, Marketing Research came in practice. In general this has done for gathering information for various marketing and business planning. It is nothing but the process through marketers or businesses utilize useful and desired information. The researchers give direction to the research using various methodologies and seek the expected results. Whole process gives a path to the marketers or organizations to find better ways to satisfy their customers and provide them directions to gain customers and profitability as well.
Now the time we see today is much more competitive as it was never before. Competition is on the anvil today. And competition gave new pace to modern business and the theories of modern business have been changed now. Everyone today seeks information as it is the biggest tool and hence we require Marketing Research services (this business enhancement process). Marketing research came in the practice when market transitioned from sales oriented environment to marketing oriented environment. Marketing concept requires customer satisfaction rather than profit maximization and it becomes the goal of an organization. So, the transition led the requirement and then evolved the process. Earlier, business decisions were made by the help of various databases.
As time and competition changed the market and hence the business decisions have also been changed. To help more to the business we need proper marketing research services and service provider. Here it would be imperative to mention that, though marketing research services is not the only resource or the answer of every question which helps in business decision but it helps a lot and improves the management decisions. Therefore an organization should focus on consumer needs and try to resolve them efficiently and quickly in a manner to satisfy both organization’s need as well as consumer’s needs. Hence, it directly indicates that any service provider do need trying to obtain information on the basis of consumer needs and gather marketing intelligence to help satisfy these needs efficiently. Most of the time Market research is being considered narrowly as gathering and analyzing the data. Marketing research company/firms need to gain competitive advantage through creative use of information.
Even though, the proper information is a benchmark for the business achievements, Marketing Research Company alone does not assure or guarantee the overall business success. Nowadays, managers don’t require the large database or information, they require information for getting the desired or expected results. They manipulate the data as per the expected outcomes and use all for the sake of achievement of their marketing goals and objectives. Most importantly, all these happen regularly and with all care of timeliness. Hence Marketing Research Company does all these as per the organizations requirement and give Marketing Research Services which fulfill the objective of the research for which an organization came for.
Hence, the whole research process helps an organization in various aspects. The information obtained by the market research is used to guide several departments of an organization or firm to take several actions pertaining to launch of a new product, to improve the distribution system, to give more satisfaction to the customers, to improve the quality of the existing product or services etc. It would be insufficient if we say that the Marketing research is everything, the fact is it is important and have various positive impacts rather than negative for business purposes if the research has not been done with all care.