Market Research – the Global Scenario Market research is a very vital part of any marketing intelligence system and helps in improving management decision making by providing relevant, accurate, precise information and timely. Each decision that poses unique information needs and related strategies can be developed based on the information gathered through market research in action. Too often, market research is considered to be limited to collecting and analyzing data that others can use, but it is still very useful. Businesses can gain and maintain a competitive advantage through the creative use of this market information. Therefore marketing research can be defined as decisions made based on input information and not just the evaluation of those decisions. This research alone, however, does not guarantee success. Marketing decisions cover issues ranging from fundamental changes in the business to decisions to enter new markets and expand, as well as bridging the tactical question of how best to maintain store shelves and take up the most visibility. The context for these decisions is the market planning process, which operates successively through four phases, situation analysis, strategy development, marketing program development and implementation. It serves as input for situation assessment. As noted, intelligent use of market research is key to business performance and therefore at every stage has made a significant contribution to the growth of the company and helped it sustain itself in the ever-changing market. Market research is not an immediate approach or clear path to find a solution to all management problems but an effective tool for learning the scenario. A manager who... middle of paper... her. Today, not only do multinationals and large Indian companies commission market research, but many Indian companies and family-owned medium-sized Indian companies also commission market research. Why do medium-sized and family-owned businesses want to commission market research? It is because there is a great awareness of the value and usefulness of market research and the market for most of the products and services is highly competitive in the Indian market. Many companies understand the need to make better business decisions in the Indian market with market research. The Indian market research industry is estimated to be around Rs. 675 cr. Since the Indian market research sector is still very small compared to the Indian advertising sector, estimated at Rs. 16,300 cr. However, the growth in the Indian market research industry over the last 20 years has been enormous.