What is market research? What is STP

Question

Accepted Answer

Market research is the process of gathering and analyzing information about customers, competitors, and market trends to make informed business decisions.

Market research involves collecting data through surveys, interviews, and observations.
It helps businesses understand customer needs, preferences, and behavior.
Market research also involves analyzing competitors and market trends to identify opportunities and threats.
The findings from market research guide businesses in developing marketing strategies and making informed decisions.
For example, conducting a survey to understand customer satisfaction levels or analyzing sales data to identify market trends.