MANAGEMENT

Detailed explanation-1: -Product Research Research that centers on evaluating product design, package design, product usage, and consumer acceptance of new and existing products.

Detailed explanation-2: -Market research is a critical tool in helping companies understand what consumers want, developing products that those consumers will use, and maintaining a competitive advantage over other companies in their industry.

Detailed explanation-3: -Market research can be beneficial in many different facets of business, including the design of products and product packaging. Market research allows companies a more complete understanding of consumer desires and the effect that specific product packaging has on purchasing patterns and preferences.

Detailed explanation-4: -Four common types of market research techniques include surveys, interviews, focus groups, and customer observation.