Market research is the process of gathering and analyzing information about customers, competitors, and the market environment. It can be used to identify opportunities, solve problems, and make better business decisions.
Market research involves collecting information about the needs and preferences of consumers. This can help companies understand their target audience and make informed decisions about product development and marketing. Various methods such as surveys, interviews, focus groups, and social media research can be used to conduct market research. The data collected can help businesses segment markets, identify target audiences, and develop marketing strategies. Market research is a crucial tool for businesses to succeed in today’s competitive market.