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Market research is the process of collecting, sorting and evaluating data for a specific purpose. In business, this is a vastly useful tool for the development and improvement of future products and services, as it answers the first question: “What do my customers want?”

Gaining a solid grasp of the current market trends, one can make viable decisions for future business expansion.

The research can be as quick and simple as a survey, or it can be an in-depth and involved study of an area of the society. Examples of questions vital to any business are:

  • Who are my clients?
  • What do they need?
  • When do they want to buy (day / month / year)?
  • Geographical?
  • Quality?
  • Quantity?
  • Demand?

A correctly approached market research campaign can vastly improve sales statistics