Together these four steps comprise what is called the marketing concept , the most accepted way for small and large businesses to market successfully. In order to implement this marketing concept, firms need specific information that helps determine which marketing activities are both customer driven as well as profitable for the organization.
Marketing research can provide that information to the manager.
Studies indicate that small businesses are less likely than large businesses to use marketing research in their decision making. Many small businesses avoid marketing research because they misunderstand what it is and what it can accomplish. Following are sev eral questions commonly asked by small business managers and entrepreneurs about marketing research. A basic answer is provided after each question. After you read these questions and answers, you should have the necessary information to begin conducting marketing research as part of your own marketing activities.