Competition in the market is constantly growing, so many companies are opening marketing analysis departments. In a survey conducted not long ago by the British Institute of Management, 265 companies took part, and only 40% of them have not yet created such departments.
But this does not mean that the level of use of research results is not high. The thing is that many companies seek help from third-party organizations whose activities include analyzing the marketing environment. It should also be noted that enterprises do not always call these departments market research departments. Whether a business needs them depends on the assessment of their role in the future.
Below we will take a detailed look at what a marketing research department is.
The role and functions of this unit
Above we have listed fusion database the areas of marketing research of the market. Of course, if the company itself is engaged in all this, then the staff of the analysis department will be very large. When it is initially created, it is necessary to clearly define the tasks that it will perform. They should be classified by their importance. Obviously, the first specialists hired will solve the most priority ones. But this does not mean that other problems in the marketing research department can be ignored.
A common mistake of management when creating such a department is to assign it the responsibility of reporting in the accepted form. Thus, the efficiency of the structural unit and the enterprise as a whole can be significantly reduced. The department's functionality will be aimed at maintaining reporting documents, which will distract from the full implementation of core responsibilities, other teams will need reporting data, without which they will not be able to competently and quickly perform their work. It is possible that the approved reporting forms will not allow the information received to be accurately displayed.
It would be better if the functions of collecting material and maintaining reports remained in the area of responsibility of other departments, which, in turn, would provide data to the market research department upon request. This would avoid duplicating the same work. The time gained could be spent on performing other functions. It is important that the market research strategy be clearly thought out, then its effectiveness will be significantly higher.
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