THE IMPACT OF MARKETING RESEARCH ON MANAGERIAL DECISION-MAKING: THE ROLE OF ANALYTICS IN MANAGEMENT AND MARKETING
Abstract
The article examines the current state of marketing research in the field of management. Marketing research is the most important component of activity for companies that want to gain a stable position or develop dynamically. The purpose of the article is to study the impact of marketing research on managerial decision-making and to determine the importance of analytics in marketing and management. Marketing research determines and/or adjusts the decision-making stage of a business, ultimately determining the profit or loss of operations and, in general, the competitiveness of the company in the market. In modern economic conditions, the market situation is constantly changing. When companies refine or adjust their development strategies, it is extremely necessary to conduct a marketing analysis. It was determined that marketing analytics is a method of conducting marketing analysis that is used by enterprises. Its purpose is to provide the company's management with information about changes in the marketing environment that would improve the management system and increase the potential of the company's actions. It is outlined that technological innovations combined with abundant data and advanced analytics are changing the way companies communicate with their potential customers, often leading to the creation of new concepts that have a significant impact on market research and analysis of the competitive environment. The constant development and change of communication and marketing technologies have led to changes in approaches to promotion and the emergence of new directions in marketing activities, one of which is content marketing. Another technology of marketing analysis is event marketing, which requires knowledge of the theory of this element of marketing, as well as practical organizational skills that can be obtained at specialized training courses. Event marketing is a powerful tool for achieving business goals. This type of marketing helps to build and maintain strong relationships with the target audience, attract new customers and strengthen partnerships. The main thing is to choose the right type of event, carefully consider all the nuances of organization and promotion, and also establish key performance indicators for monitoring results. Future prospects for additional research are to determine the financial and social benefits of marketing.
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