ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the main purpose of market research?
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find out who your competitors are
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find out what your target market wants
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find out where your customers live
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find out why your business is failing
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Explanation:
Detailed explanation-1: -Market research allows a company to define its target market and get opinions and other feedback from consumers about their interest in a product or service. The research may be conducted in-house or by a third-party company that specializes in market research.
Detailed explanation-2: -Market research helps you comprehend the demands of your customers, detect more business opportunities, plan the perfect marketing campaign, minimize losses, and keep track of the competition.
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