Whether the food you eat is good for your health or not?
Whether the cloth you wear is worth the cost or not?
What’s the brand story?
Market research don’t deal with customers directly though, but the consumers’ likes and dislikes are noticed by the market researchers. Market research through surveys, web research, and other primary, secondary research, builds bridge between customers and sellers/manufacturers/ companies. There lies the social responsibility.
A reason to grow, a reason to flourish, a reason to turn around: everything can be explored with market research. Market research is a social responsibility.
Presently, “corporate social responsibility” is a strategy for leading companies to greater business success. Although market research works uniquely behind the scenes!
Determining a company’s welfare and making the product customers’ favourite; is a biggest social responsibility that any market research firm builds in. In fact companies tend to change their product for better, after getting the initiative of data collection. Competitive studies, in detail, help them to judge their product closely. Like in India, Maggie is getting banned in most of the places, since its preservatives have reached an uncertain limit, i.e. heavy MSG, which contains naturally occurring glutamate.
Market research companies can find out the necessity required in the product, redoing the product. Since the Canadian company has also promised to transform itself as a preservative free product within this year. All they have done was a proper market survey, understanding their competitor’s trend to the society.
This are the few basic ways companies have kept rolling with market research and market research doing for the society. Apart from that, a new company that is willing to come to the market take the market research survey program! Market research discovers the opportunities threats that the new born might have to flourish, and accordingly the demand is distributed properly to the target market.
Social responsibility is not just taking a liability of poor people treating them as asset to the whole world! But treating every man equally, and understanding the strength weakness opportunity and threat of every company for the targeted individuals. This not only benefits the marketer but also the market in terms of price, quality and liberty.
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