BUISENESS MANAGEMENT
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A business that carries out market research to find customers want/need before developing a product.
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Product Oriented
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Market Oriented
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Flavour Oriented
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Package Oriented
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Explanation:
Detailed explanation-1: -Market research for new product development can focus on different areas. You can research market viability, the demand for the product you have in mind, the features your target group is looking for, or the best way to position, price, communicate and market your product to your target audience.
Detailed explanation-2: -They can use market research to make sure there is demand for their product or service before they launch it. To provide information on whether people like the product. This means changes can be made to the product to meet the needs of the customer.
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