Market research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company.
Market researchers have expanded their activities and techniques. The ten most common activities of market research are –
Determination of marketing characteristics
Measurement of market potentials
Market share analysis
Sales analysis
Studies of business trends
Short range forecasting
Competitive product studies
Long range forecasting
Pricing studies, and
Testing of existing products
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