Market research is a necessity in the business world, and everyone from executives to marketing professionals knows it. In fact, in 2018 alone, over 47 billion U.S. dollars were spent on market research.
Simply put, this type of research is designed to give businesses accurate information and data about both their existing customers and who they should be marketing to—their target audience(s). It also provides them with data regarding their competitors, and where their specific industry might be headed. When businesses can access this kind of information, they are better able to develop specific marketing strategies to implement. That results
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