Market research is key to the marketing mix

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What role does market research play in creating the marketing mix? Is it really as important as it is said to be? If you have ever asked yourself these questions, you are in the right place. In this article, we will explore the importance of market research and how it can influence a company’s marketing decisions.

Market research is a crucial process to understand the latvia phone number needs and wants of consumers. According to a study conducted by Nielsen, 80% of new products fail in the market due to lack of proper market research. This shows the importance of understanding your target audience before launching any product or service.


Additionally, market research can also provide interesting insights that can help shape marketing strategies. For example, a study by Gallup revealed that 74% of consumers rely on recommendations from friends and family when making purchasing decisions. This highlights the importance of leveraging the power of word of mouth in marketing strategies.

Ultimately, market research is essential to creating the marketing mix. It provides valuable insights into consumers and their preferences, allowing businesses to make more informed decisions. Want to discover how to use market research to improve your marketing strategies? Read on to learn more.


Introduction: Discover how market research influences the success of your marketing strategy

Did you know that market research can be the key to the success of your marketing strategy? In an increasingly competitive world, it is essential to know your target audience thoroughly and understand their needs and desires. Market research provides you with valuable information that will help you make informed decisions and design effective strategies.

Know your audience
Imagine you are launching a new product on the market. Before you do so, wouldn’t it be great to know exactly what your potential customers think? Market research allows you to get to know your audience, their preferences, consumption habits and opinions in depth. This will help you adapt your marketing and communication strategy to effectively reach your target audience.

Identify opportunities
Market research also allows you to identify business opportunities. It can reveal untapped market niches, unmet needs, or shifts in consumer preferences. Being aware of these opportunities will give you a competitive advantage and allow you to design products and services that perfectly fit the needs of your audience.