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Marketing research is used to determine why sales of a product, such as cereal, might have dropped. Qualitative data, typically gathered through interviews, can help market researchers determine the popular opinion. Marketing research is the research that companies do to study customers and other companies. Marketing research might include using social media to see what in trending within a particular industry. Giving away free samples in exchange for filling out a survey is one way companies conduct marketing research.
If you are wondering, what exactly market research is, and what types of businesses require market research, then here is your answer. Market research consists of two types of research, primary and secondary and almost every type of business requires market research in order to be successful.. Marketing research is a good evaluation tool that can be of great use in comparative studies. You can track your company's progress as well as the growth of your competitors, by keeping an eye on your competitors. You can devise business strategies that would keep you ahead of your business rivals.