The purpose of market research is to narrow down the uncertainty area in which the business manager works and to provide accurate information to minimize the probability of error in decision making.
Market research benefits;
– Reveals the existence of marketing problems and the factors that create them.
– Reduces the risk of decisions taken and provides rationality.
– Provides learning needs and requests of management. Thus, it ensures the conformity between the goods and services produced and the demand.
– Enable the discovery of new usage opportunities for new products and markets and existing products, thus increasing sales.
– Determines the degree of success and deficiencies in sales activities and helps to increase efficiency.
– Provides data for consumer preferences related to goods and services and directs them to technical research.
– Allows you to measure the effectiveness of the related marketing methods and to save the marketing costs by selecting the most appropriate ways.
– By determining the expectations of the customers, it helps to define how much the firm can meet these expectations.
– Helps create new customer audiences.
– Enables investments to put into operation.