What is market research?
Market research is a detailed and organized method of studying market trends, including gathering information to understand the market.
What are the common types of market research?
The most common types of market research are conducting surveys, carrying out interviews, organizing focus group discussions, and observing consumer behaviors.
Why do I need to conduct business market research?
Some rationale to conduct business market research is to determine the viability of a business, explore new markets, have a better understanding of the market trends, and develop strategic plans to succeed.
How is market research conducted?
Market research can be conducted by finding a market problem that needs to be solved, drawing a plan and strategy to solve the identified market problem, thoroughly examine the market size, or investigate competitors.