MARKET REASEARCH

MARKET REASEARCH

Market research is any planned effort to gather information about markets or customers. It is a very important component of business strategy. Market' research is simply research into a specific market. It is a very narrow concept. Market research provides important information to identify and analyze the market need, market size and competition.
Market research, which includes social and opinion research, is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making.