By Alaa Mostafa – Digital Coach – LinkedIn profile
Market research is the process of gathering and analyzing data about the competitor market, product or service in order to improve its understanding and performance.
The 3 reasons why Market Research is crucial for setting the right business Goals are:
– It helps businesses identify their target market so they know which audience they want to serve.
– It helps businesses determine what features their products should have so they can be more competitive in the market.
– It helps businesses identify what price points would be most appropriate for their target audience.