Why to Conduct Business Research?
Marketing Research is a Systematic and objective process of designing, analyzing, gathering and reporting information that is utilized to solve a specific problem. It provides information for aid in making business related decisions, to recognize opportunities and generates & refines actions. It is significant for the mangers for many decisions like:
- Helps in reduce risk inherent in decision-making
- Provides an significant link to customers
- Permit implementation of the business concept
- Enables managers to recognize & understand stakeholders wants & needs and to develop appropriate strategies to meet these needs.