Marketing research is the systematic gathering, recording, and analysis of data concerning marketing products and services, primarily to understand how changes in the marketing mix influence customer behavior. This crucial process helps management make informed decisions by providing accurate and relevant information, distinguishing itself from the narrower field of market research by focusing on broader marketing processes like advertising and salesforce effectiveness. It is often categorized by its target market, such as Business-to-Consumer (B2C) or Business-to-Business (B2B), or by methodological approach, like qualitative or quantitative research.
While its formal methodologies are modern, the practice of gathering commercial intelligence has deep historical roots; for instance, Johann Fugger systematically collected textile industry information in 1380, laying early groundwork for data-driven business insights. Essentially, marketing research serves as a vital link, helping managers connect marketing variables with environmental factors and consumer responses to predict and optimize outcomes.