What is Market Research?

Market research is the process of gathering and analyzing information to help businesses identify consumer needs and wants to form proper advertising and marketing decisions. It is also often referred to as "consumer research" as it asks questions about the business environment including competitors, economic trends and market structure.

Market research is conducted using sample surveys, opinion polling, focus groups and by using other techniques to measure and study consumer markets. These can be conducted online, by telephone, mail, and in person.

Companies including advertising agencies, and specialized market research organizations provide market research services. Oftentimes large businesses and government agencies conduct their own market research.

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