Running head: TARGET MARKET SELECTIONTarget Market SelectionInstitution AffiliationDate1TARGET MARKET SELECTION2IntroductionMarket research is the procedure of assembling information on aimed audience. Theforemost duty of market research is to offer a commercial enterprise a comprehensive assessmentof the customers so as to facilitate the fulfillment of their desires (Ramaswamy & Namakumari,2013). The procedure of market research is essential so as to gain the ability to contest withrivals in the similar industry and assists in investigating aspects such as market scope, rivalry, aswell as market requirements. The market research utilizes investigative and numericalprocedures and approaches to assemble and understand information in a systematic manner. Thisprocedure also entails outlook and communal investigation and is essential in the present natureof commercial activities which gain complications with time.Marketing Research MethodsExploratory ResearchThis form of research is carried out by the seller in cases where they lack ampleinformation or any information on the research issue (Shankar & Carpenter, 2012). It also entailsassembling all the information from the beginning without relying on previous informationrecorded or stored in other foundations of information. In this form of research, a person is ableto assemble information by utilizing the qualitative and quantitative research procedures. It ishence the greatest form of research as w ...
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