12 basic Objectives of Marketing Research

Marketing research is the systematic, objective and exhaustive search for the study of the facts relating to any problem in the field of marketing. It is systematic problem analysis, model building and fact-finding for the purpose of decision-making and control in the marketing of goods and services. Marketing research may be conducted for different purposes.

The main objectives or purposes of marketing research are:

1. To know the reasons for the failure of a product already in the market.
2. To assess the reaction of the consumers to the packaging of the firm and to make packaging as attractive as possible.
3. To find out the better methods of distributing products to consumers.
4. To know the types of consumers buying a product and their buying motives to know their opinions about the product and to get their suggestion improvement of a product.
5. To assess the strength and weakness of the competitors.
6. To know the dimensions of the marketing problems.
7. To ascertain the distribution methods suited to the product.
8. To estimate the potential market for a new product to be introduced in the market.
9. To know the reactions of the consumers to a product already existing in the market.
10. To find out the general market conditions and tendencies.
11. To estimate the market share of a firm.
12. To assess the probable sales volume of a firm.