Market research
Market Research is a very important component Market research is any organized effort to gather information about markets or customers it is process of gathering and evaluation of data regarding consumers' preferences for products and services.

It helps to identify the Specific market of our business and also it helps measure the size and other characteristics of the market.
Problem identification and definition in market research

Problem identification is one of the crucial stages in market research which also perceived as initial stage, which enables the researchers to find out the exact problem at the grass root level to avoid it.

The problem defining consists of two steps, one is finding and setting objectives that is, what is the goal and what is the market research going to achieve. The second step is the measure of success, which is nothing but setting up a plan to find out solutions for the problems discovered.

Problem identification involves clear and precise perception of the problems which exist. The identification and understanding of problem is crucial as it will affect rest of the activities involved in the research process. There are many ways such as customer feedback, sales graphs, internal and external data reports and purchasing patterns etc. to locate the problems.

To abolish the problems which have been detected, its background should be thoroughly assessed. Understanding the crux of the problem is as crucial as review of possible causes and to ponder upon positive and possible solutions for the problem.

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