Market Research 101: What is it & Why Do You Need It?
Market research is a great way to find out if there's a demand for your product. It's an effective tool in the startup phase, and it can be used at any point in the business cycle. Market research is just one of many tools that you can use to help make decisions about your business. Here's all the information on market research so that you can make most of micro cap's investing tips. What is market research? Market research is a systematic collection and analysis of data about the target market. It helps businesses understand their customers better to develop products or services that appeal to them. Market research is carried out by various organizations across different industries, including manufacturers, retailers, healthcare providers, marketers, advertisers, media companies, and more. Why do you need market research? Market research is a process that gives you the information to identify and meet your customers' needs, wants, and desires, and it is an essenti...