What is the primary purpose of marketing research?

JAMB Commerce 2023 162 views
Source: JAMB · 2023

What is the primary purpose of marketing research?

  1. To increase sales immediately
  2. To understand consumer needs and preferences ✓
  3. To reduce production costs
  4. To improve employee satisfaction
Explanation

Marketing research collects and studies information about customers. Its main purpose is to understand consumer needs and preferences. A firm can then make products people actually want.

Higher sales may follow, but that is a result, not the main purpose of the research.

Was this explanation helpful?

Something wrong or missing? Tell us — we read every report and fix issues fast.

pastQuestions.ng pastquestions.ng