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Business & Management: Market Research

Last Updated: Feb 22, 2021 2:25 PM

Market Research

Market research is the process of gathering, analyzing and interpreting information about:

  • a market
  • a product or service to be offered for sale
  • the past, present and potential customers for the product or service

This might be research into the characteristics, spending habits, location and needs of your business's target market, digging into the industry as a whole, or even the particular competitors you face. Market research can help you determined the viability of your product/service, understand your target market, provide consumer opinions and inform decisions.

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Carolyn Klotzbach-Russell's picture
Carolyn Klotzbach-Russell
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