Market research helps for important information to identify and analyze the market need, market size and competition. When a marketer producing the new product that time he study the all over market. The market is full of competitors when the marketer is launching a new product that time he survey the market that how much competitors are available in the market who as the same product like us. Also marketer study about that is there market potential for our product.
Market research includes social and opinion research. It is the systematic gathering and interpretation of information. Market research is the way of getting overview of customer needs wants and beliefs. The market research can be used for determine how a product can be marketer.
When the marketer introduce new product that time he also think about the future of product if the demand of his product in future is same or not. Market research is a very wide concept .the marketer study about all the factors which is related to the market and goes for the market research. The market research is very use full for any marketer. After market research researcher should do the product research. In product research there is analysis of product and product looks and the technology is used in product.
After product the product promotion research is very essential for market research. In product promotion advertisement plays a vital role in product promotion. In advertisement research it studies advertisement in detail. Advertisement research analysis that the advertisement should be related to the product and advertisement should be the attention of the customer. Advertisement should help to increase the level the of product consumption.
It helps the organisation to identify the need, size, competitors in market. Market research provides important and useful information to organisation which helps for future planning. It also helps in taking right decisions. Marketing researcher provides information to organisation related to scope for the business expansion. As per the organisation rules and regulations market research process is done. But there is need of proper planning for future growth of business and objectives are cleared. For that researcher have all qualities and knowledge about market structure. With the help of these he can done the research in systematic manner then only organisation can move forward for next plan.