Digital Rebel

The use of marketing research.

Market Research is any systematic or formal search for information that links all parties of consumership. The primary uses for market research are as follows:

  1.  Analyze customers, their location and their needs.
  2. Identify and define marketing opportunities.
  3. Monitor the environment, particularly competitors.
  4. Evaluate whether the marketing process is meeting the needs of customers and objective of the business.
  5. Evaluates the activities and people in the marketing process.
  6. Make sales forecasts for developing a company budget.
  7. Set benchmarks and quarterly goals
  8. Create a marketing calendar
  9. Create a product launch calendar
  10. Create and determine vital roles and resources within the organization.

Typically marketing departments and senior management will meet just before the new fiscal year to plan the new year based on the results on market research. After the meetings are implemented, the next step is to set a plan of action. Does your business use a market research report? How often do you use one?

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