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The collection and analysis of data concerning a company's products, customers and markets places. Primary and secondary research tools are used to understand these elements and help a company make successful decisions. Research conducted with a target audience in response to a specific, one-time-only market need is known as ad-hoc market research.
Market Research is recognised as a valuable tool to get the advantage over competitors. Market research provides important information needed to identify and study the market need, market opportunity and competition.
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