Market Research


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Market Research - short version

Sets out to collect data in a variety of ways (surveys, interviews, etc) to test hypotheses about the market. These are typically used to forecast long range and new product sales.



Market Research - long version

Market research is any organized effort to gather information about markets or customers. It is a very important component of business strategy. The term is commonly interchanged with marketing research; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets.

Market research is a key factor to get advantage over competitors. Market research provides important information to identify and analyze the market need, market size and competition.



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