In general, marketing research has the following advantages for small and medium enterprises (SMEs) in rural areas where the market size is small

 

1. understanding of market needs: Marketing research helps to understand market needs and trends, which can then be used for the development of products and services. This can then be used to develop products and services.

 

2.Gather information about your competitors: Marketing research allows you to gather information about your competitors' products, services, and sales strategies, which can be used to differentiate and sell your products and services. This can help you differentiate your products and services and improve your sales strategy.

 

3. attract new customers: Marketing research can help you understand the needs and preferences of new customers. This allows you to offer products and services that will attract new customers.

 

4. improve satisfaction of existing customers: Marketing research can help you understand the needs and dissatisfactions of your existing customers, so that you can offer products and services that will attract new customers. This can lead to increased customer satisfaction.

 

5. to promote sales: By conducting marketing research, you can gather information that will lead to sales promotions. This can improve promotional strategies.

 

However, many local SMEs do not conduct marketing research. The reasons cited for this are lack of funds, capacity, and knowledge, and as a result, product-out approaches are prevalent. Initiatives that ignore market needs because they seem to sell on a whim, because they are socially significant, or because they make use of a local specialty will surely fail.

 

Unlike large corporations, small and medium-sized enterprises do not have the management resources to manufacture product products and to conduct trial and error.

 

Therefore, there is a strong need for managers to earnestly learn about and engage in marketing research. Managers who cannot learn should leave immediately.