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what is market research

what is market research
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Ans - It is a procedure collecting, observing ,explaining and concluding data related to market , about goods or services ready for sale, data related to previous , present and future customers of products, spending behaviour of customers , business requirements, types of competitors etc.It gives information related to market that will guide in facing challenges in the market and take decision accordingly.

It consist of 2 kinds of data

1) primary data - when company hire people to collect information for them.

2) secondary data - This information is already with the company they study it and take decisions.

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