Market Research:

The process of collecting, analyzing, and interpreting information to determine the viability of a new product or service.

Alphabet Soup

Market research provides valuable information for marketers to assess:

  • Target markets
  • Consumer’s needs and preferences
  • Market size
  • Competition

Make important marketing decisions, determine new marketing opportunities, and avoid marketing mistakes with market research. 

Conduct market research with:

  • Surveys
  • Product tests
  • Focus groups
  • Interviews
  • Customer observations.

Navadhi provides a visual of the market research process.

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