Marketing Research plays a significant role in helping Government to perform some of its crucial regulatory functions. It provides an up-to-date market-related data to the government and helps it to monitor, plan, coordinate and regulate the entire economy of its area of jurisdiction. The government studies information provided by MR and uses it to understand the market forces, formulating policies, fixing critical priorities, allocating resources, providing social welfare benefits, regulating a market, stabilising an economy, so on.
Importance of marketing research to government is as follows:
Image credits © Gaurav Akrani.