Product research is important as it offers the following advantages:
1. Product research helps to explain the features of the product.
2. It helps to simplify the product line.
3. It enables a manufacturer to develop new products with good market demand in the existing product line.
4. Product research brings best sales returns.
5. It widens market for the product and also creates goodwill for the product and its manufacturer.
6. It facilitates appropriate price fixation of the product. (7) Product research brings to the limelight the different uses of the product for effective publicity for sales promotion.
7. It facilitates modification and renovation of existing products so as to make them highly competitive and agreeable to consumers.
8. It enables a manufacturer to introduce attractive package and brand name to the product for sales promotion.
1. Product research helps to explain the features of the product.
2. It helps to simplify the product line.
3. It enables a manufacturer to develop new products with good market demand in the existing product line.
4. Product research brings best sales returns.
5. It widens market for the product and also creates goodwill for the product and its manufacturer.
6. It facilitates appropriate price fixation of the product. (7) Product research brings to the limelight the different uses of the product for effective publicity for sales promotion.
7. It facilitates modification and renovation of existing products so as to make them highly competitive and agreeable to consumers.
8. It enables a manufacturer to introduce attractive package and brand name to the product for sales promotion.