Three Main Functions of Marketing Research

The role of marketing research for the company is very important, especially at the end of the year as it is today, marketing planning to create marketing programs next year is usually very dependent on the results of marketing research that has been done by the Digital Alchemy today.

Marketing research is like the eyes and ears for marketers in the company to know how consumers view the company’s products and services. In addition, marketing research can also produce measures that benchmark how much the performance of products and services than its competitors.

By using marketing research, marketers in the company have strong indicators, not just intuition, because the information generated from marketing research is based on systematic and structured methodologies and approaches.

There are three functions of marketing research for the industry, namely, evaluating, understanding, and predicting. Evaluating means more talk of the past, more current speech understanding, and predicting more on speaking of the future.

– Evaluating
Researches in this category are usually used to evaluate marketing programs that have been done before, for example a company wants to impact the communication program and promotion that has been done to increase or decrease the popularity of its brands, including in it is when marketers want to review the positioning brand compared to its competitors fall into this category. Customer satisfaction research also falls into this category especially for companies whose nuances of “services” are very strong such as banking, hotels, telecommunications, etc. They regularly conduct this survey to monitor the level of customer satisfaction, as well as they want to get input on what factors are able to increase customer satisfaction significantly.

– Understanding
Raising consumers is one of the important insights for a company, how successful a company is determined by how deeply the company understands its customers. Therefore, the category of research is about researching portraits of consumer habits and behavior or research on consumer expectations and needs.

– Predicting
Of the three functions of marketing research above could be the third function is the most difficult and high risk because the element of uncertainty is highest. Companies, when designing new products or want to enter new markets, are always faced with the question of whether the new product is acceptable to consumers? Or does the new market to be entered has a promising potential? By using marketing research, marketers will be helped to be assured in answering these questions, although there are notes because they are predictive, the number of results generated from this category research is less accurate than the previous two categories of research.