Marketing research helps us to know what the costumers want.

Marketing research gives us valuable data if we did it before we invest or start to a business. We can know what kind of products are demanded, where we should supply them, which kind of shape, colour, package of our product should be, how much demand can we generate and so on. We can also know where is our marketing niche.

After knowing these data we can decide to invest or not to invest easily. If we decide to invest it also helps us to create our marketing strategy.

There can be no business can survive without caring its consumer needs. So that’s why we should start with marketing research.

Surveys are used widely for marketing research. Surveys can let us know about demography, education, purchasing power, consuming habits of our potential costumers. There can be many types of surveys. Surveys can be done via internet, phone or face to face meetings.

If you plan to establish a small business you may not have enough budget to spend for surveys or entire marketing research. I think the cheapest way to do marketing research is to observe your competitors. If you observe them carefully and put yourself in the side of their customers, you can see their failings to satisfy their costumers’ needs. This will give you a quite advantage to have more customers although you may be new in the business.