However, the need for information about customers or competitors is often greatest when the business is not profitable. Research can provide the information necessary for the firm to redirect its marketing efforts so as to become profitable. Sometimes managers believe that unless research provides a complete description of a situation it is of no value. On the contrary, a little or some information can often help direct the firm to the appropriate course of action. In addition, if the manager seeks perfect information, by the time the information is acquired it may be irrelevant because the situation has changed.
Marketing research can help with both big and small decisions.
Businesses often rely on surveys too much. There are many other ways to acquire information, such as census data or observation of customers. The misconception that market ing research requires big bucks often stymies research. Marketing research can be done at many different levels both big and small. Another misconception is that you can not do research unless you are a sophisticated researcher.