Question

Describe the nature and significance of marketing research in modern marketing

Answer 1

they might not know what they don't know about their customers. That precious knowledge about the customers comes from "inbound" marketing -- through market research to clarify customers' needs and what they are willing to do to get those needs met. If the inbound marketing is done well, the outbound marketing is particularly easy -- and effective.

Answer 2

Marketing Research is systematic problem analysis, model building and fact finding for the purpose of important decision making and control in the marketing of goods and services. Marketing Research is a well-planned, systematic process which implies that it needs planning at all the stages. It uses scientific method.