MANAGEMENT

Detailed explanation-1: -Four common types of market research techniques include surveys, interviews, focus groups, and customer observation.

Detailed explanation-2: -Primary information is the data that the company has collected directly or that has been collected by a person or business hired to conduct the research. This type of information generally falls into two categories: exploratory and specific research.

Detailed explanation-3: -Market research blends consumer behavior and economic trends to confirm and improve your business idea. It’s crucial to understand your consumer base from the outset. Market research lets you reduce risks even while your business is still just a gleam in your eye.

Detailed explanation-4: -Web-savvy businesses use their online presence to conduct market research by encouraging customer feedback on business websites and social media. A short web-based questionnaire about your products and services is a simple, inexpensive, and effective way to survey customers.