Market research

Market = any place where buyers and sellers meet to trade products - can be a high street shop or online
Competition with anouther firm with simular products
Sucsessful businesses are ones which meet the market criteria
Markets are dynamic - always changing
Businesses can be aware of the market changing - caused by new fashions
Market research is used to identify the market needs and wants
A business can do this through; customer analysis,customer feedback,ideas for new product development,identifying trends, aid pricing strategies and meeting customer…

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