Market research is a technique to collect data from any aspect you want to know how to then interpret and use them. They serve the merchant or entrepreneur to make the right decisions and achieve customer satisfaction.
Research objectives can be divided into three:
1. Social objectives:
Meet customer needs, whether good or service required, the products or services meet the needs and desires that are required when used.
2. Economic objectives:
Determining economic success or failure can have a company when entering new markets or introducing new products or services and thus know more accurately the action to be taken.
3. Administrative Objectives:
Help to grow your business through planning, organization and control of resources and areas that comprise it, to meet market needs in a timely manner.
The advantages of market research :
1. Provides information and facts stated in more precise terms, to help resolve, the greater the success, problems encountered in business.
2. Helping to find market size will be protected in the case of selling or introducing new products.
3. Serves to determine the type of product will be issued or sold, based on the requirements specified by the user during the investigation.
4. Determine the features that fulfill or to meet the company, such as taste, preferences, purchasing habits, income levels, and so on.
5. Helps to know how to change the taste and consumer preferences, so the company can react and adapt to them and not outside the market.