How Market Research Helps Businesses Make Informed Decisions
Market research is the process of gathering information about a particular market or industry to help businesses make informed decisions. This process involves collecting data about customers, competitors, industry trends, and other relevant factors that can affect the success of a business. Market research can be conducted through a variety of methods, including surveys, focus groups, interviews, and online research. By analyzing this data, businesses can gain insights into customer preferences, buying habits, and needs, which can inform product development, marketing strategies, and pricing decisions.