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Frequently Asked Questions
What is market research?
Market research is the process of gathering, analyzing, and interpreting information about a market, including information about the target audience, competitors, and the industry as a whole. It helps businesses make informed decisions and develop effective strategies.
Why is market research important for businesses?
Market research is crucial for businesses as it provides insights into consumer needs, preferences, and behaviors, helps identify market opportunities, informs product development, and reduces the risk of business decisions.
What are the different types of market research?
The main types of market research are primary research, which involves collecting new data through surveys, interviews, and focus groups, and secondary research, which involves analyzing existing data from reports, studies, and market analysis.
