Market research

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  • 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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