ABSTRACT
Market research also plays an important part in helping to identify relevant facts about buyer behaviour and provides all kinds of information which forms the basis of strategy formulation. The markets that are seen through strategic windows are not abstract concepts they contain people. In order to understand how changes in the market occur, not only does an organization have to understand the broader issues in the business environment and the views of the market perceived by competitors, but it also has to understand the buying behaviour of the people themselves. A consumer goods market comprises all individuals or households purchasing goods or acquiring goods or services for personal consumption. Each market can be subdivided into 'sub-markets' or 'segments' each one of which could be regarded as a market in its own right. There are many different ways in which 'sub-markets' or 'segments' can be defined.
