Respuesta :
Market research is the study that is used by a business to determine where the potential customers are located.
It is the process to determine the viability of a new service or product that is conducted directly with potential customers through research. This study allows a business firm to discover the target market and get opinions from consumers about their interest in the product so that it can improve the successful accomplishment of marketing.
For collecting and analyzing market research data, spreadsheets and databases are mainly used.
The research can be done through various surveys, product testing, and focusing groups. Usually, test subjects are compensated with product samples.
A particular company that was considering engaging in business might conduct market research and do a viability test of their product and services. If the market research successfully confirms consumer interest, the business can proceed with the business plan confidently. If it was not the condition, the company should use the analysis of the market research to provide adjustments to bring the product according to the customer's desire.
Learn to know more about the importance of market research at https://brainly.com/question/12435635
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