Modern marketing research is all about businesses making calls based on current and verifiable data.
As for competing with rivals, and how market research can give you an advantage, it's really all about having information that allows your business to market to a segment in the most direct and cost effective way possible.
Modern Market Research
Before we go any further, I'd simply recommend you check out this video. I think it highlights pretty well why modern market research can be a powerful tool to beat the competition.
It is really a video worth watching!
A lot of money can be wasted trying to establish who your core demographic is and testing what kind of marketing campaign might resonate with them.
Market research allows companies to get that kind of data in a relatively cheap way - rather than blowing budgets on campaigns that don't meet business objectives.
Still have questions or need more information?
I already wrote something about "How modern marketing research helps business enterprises to curb the competition of their rivals"