What is called
All the activities of a business should be preceded by adequate research so that mistakes can be avoided. New and existing businesses carry out marketing research projects, but with different goals.
Marketing research is the collection, recording, and study of information about a commodity in the market or the general market's nature. Organizations may implement marketing research to identify their opportunities and obstacles and some emerging trends in their market. Market research is not about an absolute method or task but about businesses that call for their efforts to learn more about the intended users. It helps the organization to gain a better understanding of the customer, the competition, and the marketing environment. Two types of marketing research include:
- Primary Research
- Secondary Research
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