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market research Definition

market research

noun

the study of the demands or needs of consumers in relation to particular goods or services

market research Finance Definition
A study of a market or potential market for a company’s product. Market research is done before developing or changing a product to ensure that there is demand for the product and that the product will be distinct from similar products. Market research involves surveying current and potential customers about what types of products or services they might want. It also may involve looking at other research conducted on the demographics of a region or a group of potential customers.
market research Usage Examples

Converse of object

  • use: Using market research on national scale to prepare and present portfolios and press conferences.

Adjective modifier

  • extensive: More extensive market research was carried out to gage the reactions of consumers.
  • own: Our own market research has shown that automation and integration are critical when implementing and running a HR system.
  • successful: This practical, jargon-free book gives lots of insight into techniques for successful market research.