Quality of knowledge about market research tools in fast food entrepreneurs in the department of Tolima, Colombia

The purpose of the work was to explore and analyze the knowledge that entrepreneurs in the fast food sector of the municipality of Melgar, Tolima have about market research tools for decision-making and their benefits. These businesses have experienced a slowdown and even stagnation in their growth rate, and many entrepreneurs are unaware that market research offers solutions to business problems, supports the identification of real opportunities, generates marketing strategies, and promotes the development of new products while improving those already established. Initially, information was obtained through the Chamber of Commerce of the South-East of Tolima regarding the population of companies dedicated to the preparation and distribution of fast foods. The methodology used was exploratory-descriptive, and a survey was employed to examine the knowledge of entrepreneurs about market research for decision-making. After applying the instrument, the results were analyzed in a consolidated manner. The findings made it possible to answer the research question and confirm the working hypothesis: “A high percentage of entrepreneurs in the fast-food sector in Melgar have an erroneous or null conception of market research techniques.” In addition, it was found that entrepreneurs do not have a specific budget allocated to implement a marketing plan and express little confidence in the usefulness that such a plan can contribute to the development and success of the company. Furthermore, there is evidence of a deficit in customer knowledge and in the implementation of strategies that would allow these businesses to grow in the market.