An effort to comprehend customer behavior is what is meant by market research.
This entails methodically acquiring data about individuals or businesses—a market—and then evaluating it to better understand the requirements of that population/set of businesses.
A third-party agency with a focus on market research may carry out this sort of research in-house or on behalf of the firm.
The following benefits of performing company market research:
- Determine the business's issue areas.
- Recognize the demands of the current clientele and compare the services provided to clients with those of rival businesses.
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