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Market research is an organized effort to gather information about target markets or customers Before your open your business. It is a very important component of your business strategy.
Launching a new venture can be a daunting task, Launching or implementing an expansion in new environment is an almost impossible task.
A market research is one of the main factors used in finding your competitiveness over competitors, provides important information which helps to identify and analyze the needs of the market, the market size and competition.
Market-research techniques encompass both qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as quantitative techniques such as customer surveys, and analysis of secondary data.
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.
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