From Latin I will investigate, a investigation It consists of carrying out different procedures to discover something. The concept also allows naming the knowledge search and to the realization of intellectual and experimental activities to increase the information on a certain subject.
Market On the other hand, it is the social environment that enables exchange of goods and services . It is an institution where sellers and buyers establish a commercial link to carry out exchanges, transactions and agreements.
The market research therefore it is the process that allows to know the commercial operation . This procedure should be systematic (with a pre-established plan), organized (specifying the details related to the study) and objective (its conclusions should set aside subjective impressions).
When carrying out market research, the analyst must collect, process and analyze information linked to different aspects of the marketing . The objective is the development of a strategic plan that allows the launching or positioning of products.
When any company decides to carry out a market research about itself and what it offers to customers, what it basically aims is to achieve three types of fundamental objectives:
• Administrative. In this case, what is pursued is to achieve greater development of the entity. And for this, proper planning is essential, a thorough knowledge of the needs of individuals and also the control and proper use of the resources it has.
• Social, that is, that customers are totally satisfied with the product or service offered to them from the company. For this, we try to discover what those need and want in this regard.
• Economic. In the same way, many are the businesses that carry out a market research with the clear objective of discovering what level of success or failure they can have if they decide to embark on a new project.
Based on all this, and taking into account therefore the characteristics that define a market research, it can be deduced that it offers companies that carry out an important series of advantages:
• It gives them real and accurate information about the market in general and their position in it in particular.
• It informs them of the basis for making the most appropriate decisions regarding their work.
• It allows them to perfectly discover the needs and tastes of citizens and especially their potential clients.
• It helps them to know how they can change their face to grow and penetrate their audience.
The economy , the sociology , the psychology and the sciences of communication They are some of the specialties that provide theories and techniques for the development of market research.
A well-conducted market research allows us to understand what is happening in the market, determine what are the main trends, who are the competitors of the company, how the products are positioned and what are the needs of consumers. With this data, decision making at the managerial level is facilitated.