Market research is essential to help you understand your target audience, but what’s arguably more important is that it can play a crucial role in the development of your product or service. You need to first see if there’s a need for your product or service in the market and assess the competitive landscape.
Market research will help you determine how your business will fit in the marketplace and help drive important product decisions. Market trends are increasingly changing which means you need to keep on top of them to stay ahead of your competition by anticipating changes.
Contributor: Britt Armour from kibiiapp.com