According to authors, innovations in the areas of Artificial Intelligence(AI),Machine Learning and Deep Learning are beginning to dominate the technology landscape but the actual user experience and concerns about privacy and security are obstacles that can prevent AI from reaching its potential. Despite it’s negative implications, a Consumer Intelligence Report by PwC, revealed, that most consumers believe AI will help humankind, by solving complex problems, like fatal diseases, city traffic, cybercrime, infrastructure and fraud, that plague modern societies , thereby helping people to live more fulfilling lives. AI could revolutionize  personalized healthcare by analyzing data thus helping in maximizing life expectancy and enhancing wellbeing.AI will expand access to financial, medical, legal and transportation services to those with lower incomes thus emerging  both as a process and a product that instills trust and transparency in consumers. Read more at https://aitrends.com/security/consumers-welcome-ai-despite-lingering-privacy-concerns/

There are four main stages of the product life cycle: Introduction, Growth, Maturity, and Decline. Some examples of the different types of marketing styles and research necessary for each stage are: First, Introducing a new product into the market is going to require knowing information on your competition, buyer behavior, and distribution channels. Second, Growth-You will need to recognize new or improved competitors, possibly consider expansion in production and markets, and figure out how to maintain a positive image to your consumers. Third, Maturity- When your product becomes you will need to research your competitors more than anything else so you can potentially obtain their customers. Fourth, Decline- If your product reaches the decline phase, you will need to work diligently to get as much profit out of sales as possible. As your product comes to a decline stage, you might also want to consider going back to the drawing board to get creative with new ways to change the product completely to revamp sales. Read more about this aspect at: 

When a company struggles with any one aspect of the business, recognizing the need for a change of direction can be referred to as pivoting. Many companies have used market research to successfully pivot. A list of examples when market analysis proves a business pivot would benefit your company: First, Product Pivot - The way you see your product can be very different from how it is perceived by the public, but seeing how others will use it can help broaden your own perspective. Second, Marketing Pivot - The way your product is presented to customers is crucial to whether or not they buy it. Third, Customer Pivot - Customer segmentation is a critical aspect of marketing for a company. Fourth, Technology Pivot – Due to the evolving tech world and the many start ups that have been born, ideas for apps and social media continue to appear. Fifth, Competitor Pivot - Researching competitors will allow you to determine what decisions you need to make to stay on top. Read more at:

Market research is classified into two categories: problem identification research and problem solving research. Problem identification research helps the marketing teams to identify the problem and its implication. Through problem identification research the factors like market characteristics, brand image, market share and market potential are discovered. Brand image is the customer's perception about the company's brand; market characteristics looks at the variety of preferences of the customers; market potential refers to the product's potential profit and the demand elasticity of the products; market share gives an estimate of the share of market that is captured by the concerned company. The research options like market segmentation, distribution research, pricing research, promotional research and product research help solve potential problems. Distribution research determines where the product should be sold; market segmentation involves grouping customers with similar backgrounds and preferences; pricing research determines the actual price of the product; product research involves testing a new or revised product and regular up gradation and promotional research measures the effectiveness of advertising strategies. Read more at:

http://blog.marketresearch.com/how-to-identify-solve-your-business-problems-using-market-research