Market research involves testing the pool of possible consumers to determine people's interest in a particular product or service, especially among different demographics. It is used to establish which portion of the population will or does purchase a product, based on age, gender, location, income level, and many other variables. This research allows companies to learn more about past, current, and potential customers, including their specific likes and dislikes.

Based on market research data, businesses can develop a "target audience," which is a specific group of customers that has a distinct need or desire for a product or service. The research is used to determine how often the target audience will buy a particular item, how much they are willing to pay for it, and their overall satisfaction with it. By analyzing this information, manufacturers and service providers learn where to focus their resources most effectively.

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