MANAGEMENT

Detailed explanation-1: -A market study is the proactive analysis of market demand for a product or service. A market study looks at all of the factors involved in the market that influence the demand for that product or service.

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: -Secondary research is a type of research that has already been compiled, gathered, organized and published by others. It includes reports and studies by government agencies, trade associations or other businesses in your industry.

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

Detailed explanation-5: -Applied marketing research is conducted to address a specific marketing decision for a specific firm or organization.