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What is Market Research?
While composing an income statement, an essential thing one has to keep in mind is that this report mentions the right period where there is a cash flow statement. This often joins the balance sheet. Market research is conducted to scrutinize the demands of the users in the market and to discover what are the products that a user needs and what are the products that a customer has a liking or a disliking towards. Therefore, market research is a tool to find out the likes and preferences of a consumer in the market.
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Different Types of Market Research Techniques for Assignment Writing
- Here are two different ways we can carry out the market research at the elementary level:
- Marketing information and market segmentation– This helps in market demand and supply situations.
- SWOT analysis- SWOT is the acronym used for strength, weakness, opportunities, and threats that a business entity has. It helps in the evaluation of the competitors, products, and customer’s behavior.