Market research is one of the key factors used in maintaining competitiveness over competitors. Market research provides important information to identify and analyze the market need, market size and competition.
Market research is the process of collecting valuable information to help you find out if there is a market for your proposed product or service. The key to any successful business is to understand what it is that your customers want and giving this to them in a way that is profitable for you. In order to find out what exactly it is that your customers want you must undertake a process called ‘Market Research’.