GENERAL KNOWLEDGE

Detailed explanation-1: -Market research is a process that aids business decisions. It involves systematically gathering, recording, and analyzing data and information about customers, competitors, and the market. Research can be based on primary data and information or secondary data and information.

Detailed explanation-2: -It is a detailed, planned search process for all relevant data made by a researcher for a hypothesis. The most critical purpose of data collection in market research is to ensure that reliable data is collected for statistical analysis so brands can make decisions backed by rich data.

Detailed explanation-3: -Market research is a systematic process to collect, analyze, and interpret qualitative and quantitative data about potential customers, existing users, competitors, and the target market.

Detailed explanation-4: -Market research is one of the most effective ways to gain insight into your customer base, competitors, and the overall market. The goal of conducting market research is to equip your company with the information you need to make informed decisions.