In their textbook titled, Basic Marketing Research(1), Malhotra and Peterson define marketing research (MR) as:
“The systematic and objective identification, collection, analysis, dissemination, and use of information that is undertaken to improve decision making related to identifying and solving problems (or opportunities) in marketing.”
In addition to improving decision making in marketing, MR can also provide a company with valuable information that can be used to aid in making decisions, solving problems, and/or taking advantage of opportunities throughout other parts of a business’s value chain; from research and development (R&D) to customer service (see figure 1.1)
Figure 1.1 Business Value Chain
