THE INFLUENCE OF MARKET RESEARCH ON IDENTIFYING CUSTOMER NEEDS
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- NGN 3000
THE INFLUENCE OF MARKET RESEARCH ON IDENTIFYING CUSTOMER NEEDS
This study explored the influence of market research on identifying customer needs, with objectives to evaluate the role of market research in uncovering customer preferences, assess its impact on product development, and determine its effectiveness in predicting market trends. A survey design was employed to gather comprehensive data from a broad sample, providing a clear picture of market research's effectiveness. Using Taro Yamane’s formula, a sample size of 370 respondents was derived from the pharmaceutical industry in Kano. The reliability coefficient score for the survey was 0.89, indicating strong reliability. Findings indicated that market research is pivotal in accurately identifying customer needs, guiding product development, and predicting market trends. Recommendations include investing in robust market research practices to ensure that customer needs are thoroughly understood and met, driving innovation and competitive advantage.
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