MANAGEMENT

Detailed explanation-1: -Market research, also known as “marketing research, ” is the process of determining the viability of a new service or product through research conducted directly with potential customers.

Detailed explanation-2: -The marketing research process focuses on collecting insights from your target audience, such as their opinions and attitudes that would help you evaluate current products, services, or test concepts aimed at improving them. It can also gauge customer perceptions about your company.

Detailed explanation-3: -Market research is the process of gathering and analyzing information about a market, product, or service in order to gain insight into customers, competitors, and the market itself.

Detailed explanation-4: -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.