Every business manager needs to have answers to some fundamental questions if he or she is to develop effective marketing strategies. Some of these are:

Who are my customers?

Who consumes my products or services?

What are they like and what are their needs?

Where are they?

How well am I meeting their needs and wants?

Are others meeting those needs better than I am?

Do I always have desirable products available at the right time, in the right place at the right price?

What do my customers think of my business and its products?

Are my product offers in tune with current and future market trends?



Therefore, both small and large enterprises can gain advantage from market research.

Small businesses may believe they have a good idea of their customers' needs through experience. However, this knowledge may not be current and may have become less relevant over time.

Market research will help them ensure they remain close to their market and that they maintain their advantage whilst reducing risk.

Large businesses may also become distant from their market and can sometimes become stuck within a company paradigm that restricts innovation and growth.

Market research ensures that their business remains consumer focussed and that potentially fruitful development avenues are not ignored.

But it is not only those in commercial enterprises that can benefit.

Any organisation that provides a service that is consumed, needs to be aware of their consumers' ever changing needs.

For example, governmental and non-governmental bodies, no matter how large or small, need to consider how well they understand their 'market', how well they are meeting their obligations and how appealing their offer is.