Marketing research does not itself make the decisions, nor does it guarantee success. Developing your own marketing research process will help you achieve even better results from your data collection and analysis, in turn helping you make more informed choices. Marketing research can play a key role in making the right decisions for your company. Marketing research plays two key roles in the marketing system. Marketing research serves marketing management by providing information which is relevant to decision making. First, as part of the marketing intelligence feedback process, marketing research provides decision makers with data on the effectiveness of the current marketing mix and offers insights into necessary changes. By proactively performing market research on a routine basis, various teams and organizational leaders across departments will have access …

Every decision requires unique needs for information, and appropriate strategies can be evolved based on the information collected through marketing research. Rather, marketing research helps to reduce the uncertainty surrounding the decisions to be made. Data resulting from market research should drive strategic decision-making processes across the organization.

Why Market Research Is Important for Strategic Decision Making by Sarah Schmidt , on May 29, 2018 In today’s rapidly shifting market landscape, the ability to make effective data-driven decisions is crucial for a variety of essential business operations across an organization. The reasons for this may include some professional failures on the part of market research practitioners such as an inability or unwillingness to be involved in decision making, as well as differences in corporate cultures. Marketing research is a crucial part of marketing system; it helps to refine ideas in decisions making of management by giving accurate, appropriate, and timely information. In the United States and northwest Europe, market research is almost standard practice as an aid to making large decisions.