Why Do We Need Marketing Research?

Changes in the market are caused by following major factors:
• Entry of New Brands / Players: Entry of a new brand and player changes the market for other brands and organizations. This forces others to adjust their market effort to retain their market share.
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• Re-launch / Re-activation of Existing Brands: In this case the established brands are re-launched or dormant brands are reactivated. This is done by organizations to improve performance of brands in their portfolio which again causes others to adjust their marketing efforts.
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• Pricing Changes: Pricing changes by any player in the market calls for adjustment by others in their pricing as well. This again depends on the product/service and consumer perception about price.
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• Distributions Changes: Changes in distribution channels by one player can also cause others to adjust their distribution strategy. Let’s take an example of a telecom company who has started using local general stores to sell their mobile recharge coupons. This will cause other players in the industry to follow the same route to be not “left out”.
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Prof. Prakash Bhosale
Market Research Consultant
Email ID : ebrandingindia2017@gmail.com
Mobile : +91-8097027355, +91-9137256150
Website : www.marketresearchconsultantmumbai.com