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Market Research Introduction
Market research is influential, the feasibility of a new service or product through research conducted directly with potential customers. And also, It allows a company to find out the target and obtain opinions and consumer feedback about their interest in the product or service.
What are the four types of Market Research?
Besides, Four common market research techniques include surveys, interviews, focus groups, and customer observation.
Three key objectives of Market Research
Therefore, a market research project can normally have three different types of objectives.
Administrative: Assist in developing a business or enterprise through adequate planning, organization and control of human and material resources, thus satisfying all specific market needs at the right time.
Social: Meeting specific customer needs through a required product or service. The product or service must meet the requirements and preferences of a customer when consumed.
Economic: Determine the financial degree of success or failure that a company may have in being new to the market or introducing new products or services, thus giving certainty to all actions to be implemented.How to Submit Your Articles
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