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Sagot :
The process of planning, collecting, and analyzing data relevant to a marketing decision is called Marketing research.
Market research is the practice of evaluating the viability of a new service or product by interviewing prospective customers firsthand. Market research enables a business to identify the target market and obtain consumer comments and other input regarding their interest in the good or service.
This kind of research can be carried out internally, by the business itself, or by an outside market research firm. Surveys, product testing, and focus groups are all viable methods. Typically, test subjects receive free product samples or a small stipend in exchange for their time. The development of a new product or service requires extensive research and development (R&D).
Learn more about marketing research here:
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