MARKET RESEARCH: UNDERSTANDING CONSUMER INSIGHTS AND BUSINESS STRATEGY

Abstract

Market research is an essential component of modern business strategy that enables organizations to understand consumer behavior, identify market trends, and make informed decisions. With globalization, technological advancements, and data-driven decision-making becoming the norm, market research plays a pivotal role in bridging the gap between producers and consumers. This research article explores the evolution, methodologies, applications, and impact of market research on business strategy, along with the integration of digital technologies in the research process.