MARKET RESEARCH

Effect of Marketing Research on Customer Satisfaction

Effect of Marketing Research on Customer Satisfaction

Introduction

The main purpose of this paper is to make an analysis on the customer satisfaction. The paper also makes an analysis on the different marketing activities in business organisations in terms of market research, customer satisfaction, competition and sales.

Discussion

Market research is a branch of marketing that is critical for companies to know their areas of opportunity and measure their performance every year, as well as marketing strategies but what is market research? Market research is the process which got designed, RECAVA, analyzes and reports useful information to solve a marketing problem or make crucial decisions in this area (Booms, 2004, p. 78). Examples of these problems are to determine a price, knowing where and how to advertise, identify needed changes in a product, among many others.

Some of the uses of market research are to identify market opportunities and problems, generate, clarify and evaluate the potential of specific marketing actions, monitor the performance of marketing strategies, and finally to improve the performance of marketing, that is, expand our basic knowledge in these areas (expand, define and classify the phenomenon of marketing).

Due to strong competition in the global marketplace and the demands of today's consumers, who increasingly expect higher profits, many believe that it is more important than ever to have an accurate view of the consumer (William, 2009, p. 6). As such, the purpose of market research is to obtain information that will help us in our decision making. That is why market research is also a link between consumers and marketers, with a tool that helps you get the information needed to know them better.

It is important to note that market research is not free from error. There are many examples and instances in history where market research ...