The function of the market study will pinpoint the projects general to specific market feasibility. The Market Study will also help the proponents to obtain more information and relevant facts about the customer needs and their opinions to arrive at the necessary guidelines to meet the business objected.
Marketing research
Is the function that links the consumers, customers, and public to the marketer through information - information used to identify and define marketing opportunities and problems; generate, refine and evaluate marketing action; monitor marketing performance; and improve understanding of marketing as a process.
Market research
Is any organized effort to gather information about markets or customers. It is a very important component of strategy. The term is commonly interchanged with marketing; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets.
Market research Is a key factor to get advantage over competitors. Market research provides important information to identify and analyze the markets need, market size and competition. Market research include social and opinion research, is the systematic gathering and interpretation of information about individuals or organization using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making.
These parts of the study discuss the size, location and the Total Demand for the service, supply analysis, and the gap between demand and supply are being discussed in this part.
Advertising
According to American Marketing Association, Advertising is
