| Market research is the process of collecting, | | | | satisfy their needs and demand and try to deliver |
| recording and analyzing the data available, in order | | | | them the best possible product and services that |
| to help the company understand and analyze its | | | | matches their style and taste. |
| market and prospective customers. | | | | Data collectionâdata collection includes the |
| Market research includes the monitoring of | | | | collection of all the relevant information about the |
| marketing objectives, targets and goals and also | | | | consumers, their taste, needs and preferences. |
| analyzes the strategies of the competitors. With | | | | This is the initial step before moving further with |
| the help of market research, a company can | | | | the market research. The market relies on the |
| understand the needs of its customers and can | | | | data gathered. |