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Market Research and Competitive Analysis - Strategies to Enhance Innovation

Market research is the science of uncovering hidden truths about a market the secret desires, untapped potential, and unspoken needs of its customers. Through market research, you can explore customer preferences and behaviors, competitor activity, and industry trends. Armed with this knowledge, you can make informed decisions about your products and marketing strategies.

In the upcoming two chapters of this book, we will explore how, as a product marketing manager, you can leverage the data and insights you collect from market research to develop actionable strategies. It's all about working closely with different teams and stakeholders, using this valuable information to make products even better, enhance customer experiences, and maintain a competitive edge.

This chapter will provide answers to essential questions, such as the following:

• What advantages does market research offer, and what are the...