Thursday, August 30, 2007

Report on market research

Last Friday our teacher gave us a weekend assignment to make a report about market research. And so to learn more about this I consulted the net. And according to what I read., market search is the process of systematic gathering, recording and analyzing of data about customers, competitors and the market. Market research can help create a business plan, launch a new product or service, fine tune existing products and services, expand into new markets. It can be used to determine which portion of the population will purchase the product or service, based on variables like age, gender, location and income level. It can be found out what market characteristics your target market has. With market research, companies can learn more about current and potential customers. With a lot of resources I consulted a came up a five pages report.


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