Marketing is the process of by which products and services are promoted to the customer through advertising in order to in crease sales. Marketing concept requires customer satisfaction as opposed to maximising profits for an organization to be successful.
Marketing research is an important aspect in any organization since it plays an important role in shaping market strategies. An article by Aaker et al clearly discusses the importance of marketing research in any organization that is aspiring to be a market leader. The authors acknowledge the fact that marketing research does not provide an instant answer to all managerial problems a company might be facing. The authors observe, “With effective market research, you can determine the need for your service, a product’s likelihood to sell, target-market demographics, and desirable store locations” (Aaker et al, 2001, p.6).
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