Why is marketing research important to the development of a marketing strategy?

Importance of Market Research

Respond to the following in a minimum of 175 words:

Why is marketing research important to the development of a marketing strategy?

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Market research involves objectively gathering qualitative or quantitative (or both) data on a particular business environment, competition or market. It should be thoroughly done by creating questions about products and services. These questions must be specific in that they cover all the benefits and characteristics of the products or services.  Market research is important in marketing strategy to improve customer satisfaction as well as sales. Additionally, market research allows one to have all the facts about all aspects of the business.Market research involves objectively gathering qualitative or quantitative (or both) data on a particular business environment, competition or market. It should be thoroughly done by creating questions about products and services. These questions must be specific in that they cover all the benefits and characteristics of the products or services.  Market research is important in marketing strategy to improve customer satisfaction as well as sales. Additionally, market research allows one to have all the facts about all aspects of the business.Market research involves objectively gathering qualitative or quantitative (or both) data on a particular business environment, competition or market. It should be thoroughly done by creating questions about products and services. These questions must be specific in that they cover all the benefits and characteristics of the products or services.  Market research is important in marketing strategy to improve customer satisfaction as well as sales. Additionally, market research allows one to have all the facts about all aspects of the business……………….

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