Answer:
This process is called market research.
Explanation:
The term market research can be defined as the process of collection analyzing and interpretation of data or information about a market. Data regarding a good or service that is to be sold in the market, or regarding the previous, current and potential customers of the good or service is collected in this process.
It also involves researching market locations, consumers' spending habits, tastes and preferences, and, competitors in the market.
