Market research is defined as the process of evaluating the feasibility of a new product or service, through research conducted directly with potential consumers. This method allows organizations or businesses to discover their target market, collect and document opinions.
Market research can be conducted directly by organizations or can be by the outsourced to agencies which have expertise in this process.
The process of market research can be done through deploying surveys, interacting with a group of people also known as sample, conducting interviews and other similar processes.
Primary purpose of conducting market research is to understand the market scenario with a particular product or service, to decide how the audience will react to their product or service.
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