When Should Marketing Research Be Done?

There is no precise answer to this question. As a general rule, marketing research should be

done when important marketing decisions must be made. It should be done at times when

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customers may be easily accessible (e.g., a gift shop may want to conduct research before the

holiday season when customers are more likely to be thinking about buying gifts for friends and

loved ones), when you are thinking about adding a new product or service to the business, or

when a competitor seems to be taking away market share. The trick, though, “is not to wait very

long, because your competitors can start getting the answers before you do.” [16]

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