Benefits Of Marketing Research To Consumers

Benefits Of Marketing Research To Consumers:

Consumers do not conduct MR activities on their own. However, the benefits to all research activities are available to consumers. In fact, the purpose of MR is to study/understand the needs, expectations, problems, etc. of consumers and to give maximum possible convenience and satisfaction to them. This suggests that consumers secure the maximum benefits of research activities indirectly as all research activities are basically for the benefit and convenience of consumers.

The benefits of MR to consumers are as noted below:

1. Supply of goods and services as per the needs and expectations of consumers. MR provides wide choice to consumers. Consumers get wide variety of goods at fair prices due to MR activities.
2. Suitable adjustments in the products (as per the requirements of consumers) through product planning, product innovation and product modification.
3. Supply of goods at right place, time and also at the right price.
4. Better return (in terms of convenience, satisfaction and welfare)of the price paid for goods and services.
5. Protection of the rights of consumers and prompt redressal of complaints relating to price/ quality, use, etc.
6. Availability of new / innovative products as per current socio-economic-cultural needs.
7. Provision of wide variety of goods for the convenience of consumers.
8. Better quality after-sales services.
9. Fair treatment and prevention of exploitation of consumers.
10. Production as per the expectations of consumers.
11. Provision of wide choice to consumers.