In recent years the evolution of marketing research has been dramatic with marketers getting access to a wide variety of tools and techniques to improve their hunt for information. For instance, in its role as the foundation of marketing, marketing research is arguably marketing’s most important task. Today marketers not only view research as a key ingredient in making marketing decisions they also consider information to be a critical factor in gaining advantage over competitors.
Because organizations recognize the power information has in helping create and maintain products that offer value, there is an insatiable appetite to gain even more insight into customers and markets. Marketers in nearly all industries are expected to direct more resources to gathering and analyzing information especially in highly competitive markets. Many of the trends discussed below are directly related to marketers’ quest to acquire large amounts of customer, competitive and market information.