- Provides up to date information, important for fast paced industries.
- Allows improvement of marketing strategies.
- Assesses customer reactions by testing products on them.
- Gives a business an understanding of the activities and strategies used by rivals.
- Helps predict future trends to maximise opportunities.
Purpose of market research
Purpose of market research...Market research is the organized process of gathering information about your target customers and market. Market research can help you better understand customer behavior...
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