Every businessman, merchant or entrepreneur who works on the market, first of all must study the market, applying a series of activities and a system of analytical research marketing activities.
Marketing research is an important part of marketing activity as extremely important measures, which must be carried out systematically and continuously, in order to compare the expected results with the real situation on the market for timely response to it and making adjustments to entrepreneurial activity.
For a modern entrepreneur, for orientation in a market environment, there is not enough personal intuition, other people’s judgments, statements, thoughts and conclusions. He needs information about existing and expected market problems and how to solve them.
Every year in a competition to reduce the risk, the firm must have reliable information about commodity production, the environment of competition, the state of the economy of the region, the country, the firm, and in this regard, to build its policy on the market. In addition, we note that marketing research is needed both for commercial and non-profit institutions, in particular public educational institutions.
Marketing research is a system for collecting, processing and analyzing marketable market information to reduce the risk of entrepreneurial activity and to make informed, well-informed marketing decisions.
The role of research is to record and assess the needs, demands and demands of consumers, to create a specific program for their satisfaction, taking into account the current market situation, the company’s capabilities and its potential.
The purpose of these studies is to identify the market opportunities of the firm, gain stable competitive positions in the market, reduce the risk and increase the chances for the successful success of all marketing activities.