Benefits Of MR To Small Businessmen:
In general, MR is useful to all categories of businessmen – small or big. Small businessmen include small-scale manufacturers, small-scale dealers, retailers and so on. They can adjust their business policies and \ activities as per the information available from the research activities. They can take decisions regarding location of business/ sales territory, commodities for manufacturing or marketing, sales promotion policies, storage of goods, credit policies, pricing policies and so on with the help of information available through research activities.
A small businessman may not be able to maintain separate research department for the conduct of research activities. However, he can collect necessary information from census reports, other financial and marketing reports, etc. published by different agencies. He can even refer to market reports and other reports on current economic issues and adjust his business policies accordingly. This is how marketing research is useful to small businessmen in the conduct of all their business activities properly and with foresight, imagination and vision.
Small businessmen have to adjust their business policies and activities as per the need of the situation. Here, they use the research techniques (knowingly or unknowingly). This suggests that marketing research is useful to large business houses as well as small businessmen. In the case of small businessmen, the use of MR may not be extensive as in the case of large business houses. However, small businessmen study market situation as per their business needs, use available information on market competition, consumer needs, etc. and adjust their business plans, policies and operations according. This is precisely the manner in which they use marketing research for their benefit.
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