Thursday, August 19, 2010

How do busineses understand thier customers, competitors and market environment by using market research?

Market research thier customers such as survey. market research competitors to see thier financial figures and postion in the market including market size.

How do busineses understand thier customers, competitors and market environment by using market research?
they target specific groups and ask questions about their own products and that of competitors so they can see what consumers want.
Reply:Businesses carry out surveys that test the market in terms of whta they're willing to spend, to buy, etc and compare with what they have to offer and redefine their plans so that they are in line with what their customers want - at least that's the ideal.

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