A market research is performed to realize the response and reactions of the audience on the launch of an idea. This method has been doing the rounds since a very long time and is used worldwide to gain insights regarding the product.
This method includes a group of random people who are made to use your product or service and to analyze their views after using it. Their response is collected and analyzed based on which improvements are done. This procedure actually falls under the decision- making process.
Once the current product is improved and modified, it gets ready to be presented in the market. The chances of appreciation by the audience rise at a higher rate after conducting the market research.