Market research

Market research is a process of gathering and analyzing information about consumers, competitors, and the overall market to make informed business decisions. It involves the collection of relevant data through surveys, interviews, and observations to understand customer preferences, buying behaviors, and market trends. This research helps companies identify potential opportunities, assess market demand, and stay ahead of their competitors. By using market research, businesses can make informed decisions about product development, pricing, advertising, and market expansion, ultimately leading to more successful and profitable outcomes.

This mind map was published on 21 October 2023 and has been viewed 102 times.