Any business should find out what people want to buy and how many people are going to buy that product before producing a product since the chances of failing are very high. Usually,market research try to answer these questions:
- What feature of the product do they like/dislike?
- Are people willing to buy the product?
- What price are people prepared to pay?
- Location of the selling point of the product.
- Type
of customer who buys the product. - Type of promotion that will be effective.
- Competition in the same industry.
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