G10 Market Research
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What is the meaning of market research?
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Al Huda Stationary," in Ras Al Khaimah, regularly monitored prices and products at nearby stationary shops. When they saw a competitor offering discounts on school supplies, they matched the prices and gave more discounts. Which benefit is this an example of?
A
Develop new products.
B
Check up on competition.
C
Predict changes.
D
Find market gaps.
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An Emirati fashion boutique, “Senso," watched the fashion market closely. They noticed that colorful abayas were becoming very popular. They started making colorful abayas before anyone else, and this helped them stay ahead of the fashion trend.
Which benefit is this an example of?
Which benefit is this an example of?
A
Develop new products.
B
Check up on competition.
C
Predict changes.
D
Find market gaps.
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Market research only benefits large companies.
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true
B
false
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Market research helps businesses make good decisions.
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true
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false
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"Get closer than ever to your customers. So close that you tell them what they need before they realize it." (Steve Jobs) What is the link to market research?
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