ENTREPRENEURSHIP

Detailed explanation-1: -Consumer research is a part of market research in which inclination, motivation and purchase behavior of the targeted customers are identified. Consumer research helps businesses or organizations understand customer psychology and create detailed purchasing behavior profiles.

Detailed explanation-2: -Marketing research is the process of collecting and analyzing data from consumers and competitors to help businesses explore who their target customer is and what they want from the brand. Good marketing research can also provide insight into how effective marketing efforts are, and explore potential areas for growth.

Detailed explanation-3: -The importance of marketing for your business manifold. It makes the customers aware of your products or services, engages them, and helps them make the buying decision. Furthermore, a marketing plan, a part of your business plan, helps in creating and maintaining demand, relevance, reputation, competition, etc.