Objectives of Marketing Research

The objectives of marketing research are multifaceted and far-reaching. At its core, marketing research aims to provide businesses with a deeper understanding of their customers, competitors, and market environment. This understanding is crucial for developing effective marketing strategies, identifying opportunities and threats, and making informed decisions about products, services, and marketing campaigns. The objectives of marketing research can be broadly categorized into descriptive, causal, predictive, explanatory, and decision-making objectives. By achieving these objectives, businesses can gain valuable insights into customer needs and preferences, identify market trends and opportunities, and develop targeted marketing strategies that drive business growth.