MANAGEMENT

Detailed explanation-1: -Marketing Research (Marketing Research) is a process that you need to do before starting a business. It aims to obtain objective and accurate data which can then be used as a reference in making decisions.

Detailed explanation-2: -Some of the overarching goals that market research can help organizations accomplish, include: making important business decisions, securing investments and funding, determining new business opportunities, and even avoiding business failures.

Detailed explanation-3: -Market research helps you to understand your customers and their needs, as well as what your competitors are doing. This understanding can help you to better focus your marketing efforts, make informed decisions about your business and make the most of opportunities.

Detailed explanation-4: -Many companies use market research to test out new products or to get information from consumers about what kinds of products or services they need and don’t currently have. For example, a company that was considering going into business might conduct market research to test the viability of its product or service.