The marketing world has many intuitively clever marketers and many plain lucky marketers. But, the most successful marketers are the best informed. They know their customers, know their competitors and distributors, and know which marketing tactics work and which ones don’t.
More importantly, they know what they don’t know and want to find it out.
An increased emphasis is being placed on the importance of sound managerial decision-making. These are decisions that are based on a good understanding of the situation that can be shown to be rational on the basis of the information available. It is the task of Marketing Research to provide relevant, accurate, reliable, valid, and current information on which to make sound decisions. By doing this properly the chances of an incorrect or poor decision are reduced.