- Published: Tuesday, 20 October 2015 07:50
Market research is known as the planned analysis and research of the market in order to collect vital information of industry and target markets. Effective market research is essential to create a successful business strategy. This research will benefit The One by providing an edge over the other competitors as they will have a better vision of the industry needs, scope of the market and by understanding the current competition, they will be able to find their position in the market.
Market research could be a collection of quantitative, qualitative or mixture of both data. This information will be gathered and analyzed by the use of different statistical and sociological methods which will then be used to assist the decision makers to make a more informed decisions.