Market research is considered very important for the organizations to determine the feasibility of a plan or a project. Market research helps the companies to find where the products are most likely to sell. It helps the companies to identify the potential market segments. The domestic and the international competitors of the company are also determined in the market research. Market research also helps the companies to determine the customers’ needs and the new trends. Therefore, the market research covers all the major challenges, threats and opportunities of the company, thereby increasing the feasibility of the study. If a company conducts the market research, it can determine the feasibility of the study and reduces the uncertainty and risks of the company.
