Keyword

Marketing Research, Planning, Decision-Making, Customer Satisfaction and Increase sales

Abstract

The topic of this study is on marketing research as a proactive strategy for the performance of contemporary businesses. The main problem that necessitated the conduct of this study is that most businesses including manufacturing companies in Nigeria pay little attention to marketing research. To solve this research problem, questions were formulated in questionnaires and administered to 967 respondents in the sampled cities in Nigeria. The statistical model for the test of the hypothesis formulated was Analysis of variance (ANOVA). The major findings of the study indicates that it is important and necessary that companies and businesses carryout frequent marketing research. Over the years little attention is given to marketing research, based on most companies not having functional marketing department or unit that perform this task. Moreover, other activities are devoid of marketing research hence it is relegated in most companies’ budget. But the study clearly shows that the benefit of this exercise is enormous and the demerits are quite detrimental to any company or business firm. Furthermore, poor statistical data, illiteracy, uncompromising attitude of buyers, few research experts and myopic assumption held by some producers fault the work of marketing researchers. It is concluded and recommended that every company’s effort should be geared towards conducting marketing research. Thus, this can be achieved if the necessary funds and enablement is guaranteed by compan


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