MANAGEMENT

Detailed explanation-1: -There are lots of different ways you could conduct market research and collect customer data, but you don’t have to limit yourself to just one research method. Four common types of market research techniques include surveys, interviews, focus groups, and customer observation.

Detailed explanation-2: -Competitive analysis Competitive analysis is a secondary market research method where a company collects and analyzes information about competitors in their market. It involves identifying all the primary and secondary rivals to your business and determining their offerings, profits, marketing strategies and more.

Detailed explanation-3: -Market research allows companies to understand the demand and viability of their product and to see how it might perform in the real world. Market research is conducted either through primary information or secondary information, both providing unique insights into a company’s offering.

Detailed explanation-4: -What are the 4 types of market surveys? There are four main types of market surveys companies can use. These are customer observation, focus groups, surveys, and interviews.