Answer :
Engaging in market research to improve their product is mainly beneficial for the business itself.
Market research is a process that involves gathering information and analyzing data about the target market, customers, competitors, and other relevant factors. By conducting market research, a business gains insights into consumer preferences, needs, and trends, allowing them to make informed decisions about their product development, marketing strategies, and overall business operations.
The main stakeholder who benefits from market research is the business itself. By understanding the market and consumer demands, the business can tailor its products to better meet customer needs and preferences. This can lead to improved product design, features, and quality, enhancing customer satisfaction and loyalty.
Additionally, market research can provide valuable information about market opportunities, potential new target segments, and competitive landscape, enabling the business to make strategic decisions that increase its competitive advantage and profitability.
While market research indirectly benefits other stakeholders such as customers (by providing products that better meet their needs) and employees (by supporting informed decision-making and business growth), the primary beneficiary is the business itself as it gains valuable insights and knowledge to improve its product offerings and overall performance.
To know more about market , visit :
https://brainly.com/question/27847462
#SPJ11
