Market surveys are conducted to gather information about target markets and customers. The purpose is to provide business managers with insight about customer spending habits, interests in new products, and use of competing products. A market survey defines the parameters of a business by studying customer demographics, purchasing power, and buying potential within the business's geographic area. Objectives of market surveys include creating brand awareness, gauging purchase behavior and brand perception, and testing customer satisfaction. Conducting market surveys helps businesses develop better strategies, identify opportunities, understand customer needs, gain competitor insights, reduce risks, and test products before launch.