What are the advantages and disadvantages of marketing research?

Answer 1

advantages: 1. To study needs,wants and expectations of the customers. 2. To find out reactions of customers to products of the company. 3. To evaluate company's sales promotion measures for suitable adjustment and improvements. 4. To study current marketing problems and opportunities foir suitable follow up. 5. To suggest introduction of new products,modification of existing products. 6.To study marketing competition,channel of distribution and pricing for suitable changes if necessary. 7. To find methods for making the product popular and raising its goodwill and marketing reputation.

Answer 2

Marketing research, according to my old tutor, is part of the process of designing the product to better suit the customer. As such it should have few disadvantages to the supplier.

It is not (Edsel excepted) the process of trying to sell a product you've already designed.