Uses or importance of marketing research to economy, Marketing Research

Uses or importance to economy:

1.       Production: suitable production, functions are adopted to meet the market demand. In the absence of marketing research, production will be undertaken without knowing its ultimate result. It may exceed the market demand or may lag behind. It may not meet the consumer's needs, interest and willingness to purchase.

2.       Distribution: the marketer researcher finds suitable channels of distribution. Those coming in the channel of distribution may get a reasonable margin for their services. Thus, the products and distributers are benefited.

3.       Employment: the increased production, widespread distribution and promotion functions increase employment opportunities in the country. Increasing production requires more personal, distribution needs more businessman in the areas of wholeselling and retailing.

4.       National income: with the increase of production, distribution and marketing activities, the national income increases. The diversified economic activities act as an impetus to the growth of the nature income.

5.       Reduce recession: recession occurs when the production exceeds the capacity of the market. Production and the market can be avoided with the use of the findings of marketing research.

6.       Avoid crisls: similar to recession, a crisis is also trouble some to the people. The scarity of production causes a crisls in the economy, and it is unable to meet the market demand. If the findings of market research are used, between the market and production can be corrected.

7.       Non -profit organizations: the use of marketing research has not been extended to non profit organizations to find out their Clints and to pursue them in an effective manner to receive their support.

Posted Date: 9/19/2012 8:03:29 AM | Location : United States

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