To find out about the market and customers needs and wants. What do the consumers like and dislike. How much are they prepared to pay for your service/ product? What are competitors prices and market leader?
The firms would use the information to focus customers needs so to get them interested and beat competitors, to be money-efficent, to increase market share, to find good place in market, identifies areas of opportunity, gap in the market, identifies demand, any change, pricing strategies, current trends, sends message to banks and lending organisations, isp, find target market.
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