Most companies use a combination of marketing research resources to study their industries,
competitors, audiences, and channel strategies. Companies normally budget marketing research at
1 percent to 2 percent of company sales and spend a large percentage of that on the services of outside
firms.Marketing research firms fall into three categories:
1. Syndicated-service research firms—These firms gather consumer and trade information, which
they sell for a fee. Examples include the Nielsen Company, Kantar Group,Westat, and IRI.
2. Custom marketing research firms—These firms are hired to carry out specific projects. They
design the study and report the findings.
3. Specialty-line marketing research firms—These firms provide specialized research services.
The best example is the field-service firm, which sells field interviewing services to other firms.
To take advantage of all these different resources and practices, good marketers adopt a formal
marketing research process.