The Importance of Marketing Research? Why is it Necessary?
Until very recently, there were no research and development studies on the concept of marketing. Today, however, theories on marketing, which expresses an important scientific reality, are being produced and hundreds of scientific articles are being published. Since the existence of the first human beings, it is certain that there have been shopping relations to meet needs. But they are not as complex as today’s vendor-customer relationships. The diversification of goods, the proliferation of sellers, and the overriding of desires over needs have taken the exchange of products out of its traditional channel.
Until very recently, there were no research and development studies on the concept of marketing. Today, however, theories on marketing, which expresses an important scientific reality, are being produced and hundreds of scientific articles are being published. Since the existence of the first human beings, it is certain that there have been shopping relations to meet needs. But they are not as complex as today’s vendor-customer relationships. The diversification of goods, the proliferation of sellers, and the overriding of desires over needs have taken the exchange of products out of its traditional channel.
Basically, marketing can be defined as the exchange of goods or services. However, there are other definitions in the modern sense. For example, analyzing the needs of the target audience, producing the products or services needed, and selling them in ways that ensure customer satisfaction. In this process, different parameters are evaluated in terms of identifying customers, identifying competitors in the market, and determining strengths and weaknesses.
The concept of marketing is changing day by day
There are multiple definitions of marketing and their focus is different. The reason for this is that not a day goes by without a new theory of customer relations being put forward and these theories directly affect marketing habits. There is no overbearing customer profile hidden in Henry Ford’s statement: “People can buy any car they want as long as it is black”. Companies now have to prioritize the individual and shape their products and services according to their needs and desires.
An increasingly difficult marketing process?
Even if businesses are successful in identifying desires and needs, a consumer profile has emerged that is now very difficult to convince. Before, it was quite marketable to offer people something new and to develop products that would change or benefit their lives. But for the moment, the problem is that people are faced with many alternatives. In addition, people’s communication through channels such as social media has become instant and fast. They can have information about the products or services developed by companies in a very short time and can quickly have an opinion about the product or brand.
Such developments have made the marketing process more challenging. Companies have also emphasized brand experience in the marketing of their products. Concepts such as online reputation, which emerged with the development of online media, enabled the brand to become a product. Therefore, it is not enough to make a difference with the product produced. As a brand, it is necessary to manage a culture, image and prestige. New developments that take marketing relations out of their traditional channels are chronicizing the product and service marketing processes of companies.
Although the process seems to be getting more difficult to manage, it has become possible to increase the chances of success in marketing strategies thanks to the practicalization of data collection and analysis methods. Both digital measurement tools and services provided by professional research firms have made it possible to shape marketing strategies on a healthier basis and facilitate the management of risks. In this sense, it is possible to list the benefits of marketing research as follows:
- Marketing means customer-oriented design of products or services. It enables the determination of the main axes from the price of the designed product to its packaging, content and how it will be presented to the target audience.
- By utilizing marketing disciplines, it makes it possible to recognize the target market and audience, evaluate the data related to them and realize the best presentation studies.
- It can ensure that the weaknesses and strengths of the business are recognized. This is essential for the sustainability of the business. This is because weaknesses can be a recipe for disaster over time and may reduce preferability in the context of evolving marketing habits.
- By recognizing strengths, a strong brand can be created through innovation and change. In the marketplace, constant change and transformation can strengthen the ability to respond to the needs of the existing audience, as everything has an alternative and is quickly substituted.
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