MANAGEMENT

Detailed explanation-1: -Marketing research is the process of collecting and analyzing data from consumers and competitors to help businesses explore who their target customer is and what they want from the brand. Good marketing research can also provide insight into how effective marketing efforts are, and explore potential areas for growth.

Detailed explanation-2: -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-3: -Primary market research is based on data you collect from your customers, competitors, employees and suppliers. Secondary market research is extracted from industry studies, books, journals and other published resources. You should look to both sources for a complete picture. Basic demographic information.

Detailed explanation-4: -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-5: -Market research is the process by which companies seek to collect data systematically to make better decisions. Still, its true value lies in the way in which all the data obtained is used to achieve a better knowledge of the market consumer.