For a consumer, more than the price, safety of a product is highly important
Taste of the consumer keeps on changing with time. There is period for most of the products when these sell like hot cakes but once a thing gets out of fashion, its sale come down. One must, therefore, keep a close watch at the changing fashions and trends in the society.
For a consumer, more than the price, safety of a product is highly important. No one will like to buy an item which likely to cause harm. According to American marketing association, marketing research is defined as `the gathering, recording and analyzing of all facts about problems relating to transfer and sale of goods and service from producer to consumer.’
Market survey is done to know the following important facts-
1) persons who buy products i.e., consumers
2) Impact of promotional efforts I.e., the result of the efforts made by a firm to promote, boost or increase the sale of an item.
3) To know response of the consumers to a new item.
4) To assess or forecast sales.
5) To know the goodwill the firm has as compared to the other firms in the market.
There are a good number of uses of a market survey. Important among these are-
1) It tells us demand for the product. It is helpful in farming production schedules.
2) We come to know the requirement and likeness and dislike ness of consumers. This can help to introduce the necessary changes in the product.
3) We can know how far the chemical of distribution, sales promotion activities and advertising is effective.
4) We can also know the new markets for our products
Tags: For A Consumer , More Than The Price , Safety Of A Product , Highly Important
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