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What is the significance of market research planning and why you think it is critical for...

What is the significance of market research planning and why you think it is critical for marketing professionals to focus in this way. Provide relevant context or examples to support your comments.

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market research planning will tells the professionals about how the market is present and what it is expecting from the manufactures will be known. It is critical for marketing professionals since the new products they are going to launch and want to know about competitors and all can be known only by market research.

Examples are if a company want to launch a new energy drink will need to research about what price market is willing to pay for it and how many competitors are there sending similar product and how many units they need to produce etc will be known based on market research planning

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