What is the scope of marketing research?

Thus, marketing research has a broad area of application which describes its scope. The main purposes of marketing research to a marketer are planning and control, but, one point that must be stressed here that a marketer (or a marketing manager) has always limitations in terms of resources (staff and money) and time.

What should be included in a market research strategy?

Take into consideration the goals you have established for your market research, as they will influence which of these elements you’ll want to include in your market research strategy. Secondary data allows you to utilize pre-existing data to garner a sense of market conditions and opportunities.

What are the benefits of market research?

Some of the benefits of market research include: Informed decision-making: Market research provides you with the data and insights you need to make smart decisions for your business. It helps you identify opportunities, assess risks and tailor your strategies to meet the demands of the market.