MANAGEMENT

Detailed explanation-1: -Market research provides critical information about your market and your business landscape. It can tell you how your company is perceived by the target customers and clients you want to reach.

Detailed explanation-2: -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-3: -Target market research is the process of systematically collecting and analyzing information about your target market. The primary purpose of the research is to better understand your target audience to shape your service offerings, pricing, marketing, and business development.

Detailed explanation-4: -They can use market research to make sure there is demand for their product or service before they launch it. To provide information on whether people like the product. This means changes can be made to the product to meet the needs of the customer.