Analyze the relevance of market research and marketing strategy
In the contemporary world it is hard to imagine a company, which operates in the market blindly, without preliminary investigation and analysis. As the markets become more and more heterogeneous, the competition grows stronger and customers’ preferences at a particular instant of time determine the success of the product, the necessity to explore the market and define a well-structured strategy has become more and more significant. That is why more than 70 percent of the overall marketing expenditures on research are spent by 70 biggest US companies, such as Coca-Cola, McDonald’s etc. The total U.S. Market Research expenditures are growing every ...