Modern marketing research help the business enterprise to curb the competition of their rivals by accessing information about the segment or consumer demographic that will enable the company to deliver a more effective strategy.
Let's say a rival has a bigger advertising budget, but hasn't conducted market research. Although they might be able to create visually stunning advertising communications and push them out through high volume channels - if they don't know or understand their market or target audience, the message or approach they deliver might not resonate well or prove ineffective.
That is why market research is critical, but not just that: It has to be quality market research that provides accurate data.
