By: Muhammad Arif – Account Manager of Fortune PR
“Market research provides a wealth of information about prospective and existing customers, the competition, and the industry in general. It allows businesses to determine the feasibility of a business before joining the market. It provides relevant data to help solve marketing challenges that a business will most likely face, market segmentation strategy, as well as product differentiation strategy. A good market research plan indicates where and who your customers are. It will also tell you when they are most likely and willing to purchase your products or use your services. That’s why it’s important to conduct market research with the right method. Remember, a badly conducted market research can steer a business to the wrong direction.”
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