Valuable information/ Customer-centric/Forecasts/Competitive advantage
- 1 hr1 hour
- on requeston request
Valualbe information/ Customer-centric/Forecasts/Competitive advantage • Valuable information: It provides information and opportunities about the value of existing and new products, thus, helping businesses plan and strategize accordingly. • Customer-centric: It helps to determine what the customers need and want. Marketing is customer-centric and understanding the customers and their needs will help businesses design products or services that best suit them. • Forecasts: By understanding the needs of customers, businesses can also forecast their production and sales. Market research also helps in determining optimum inventory stock. • Competitive advantage: To stay ahead of competitors market research is a vital tool to carry out comparative studies. Businesses can devise business strategies that can help them stay ahead of their competitors.