Definition

Noun: - The systematic gathering, recording, and analysis of data about issues relating to the marketing of goods and services: This involves studying consumer behavior, market trends, and the effectiveness of marketing strategies to inform business decisions.

Usage

Marketing research is conducted to understand the market environment. It is a critical business function that precedes major decisions.

Examples

• Noun:
  • The company invested heavily in marketing research before launching the new product.
  • Accurate marketing research helps identify potential customers for a service.

Advanced Usage

• "to conduct marketing research": to carry out a systematic study of the market.
  • The team was hired to conduct marketing research on consumer preferences in the digital age.

Variants and Related Words

• Market research (n): Often used synonymously with marketing research, though sometimes considered a subset focusing more on the market size and characteristics.
  • The initial market research indicated a strong demand.

Synonyms

• Market analysis: The assessment of a market's dynamics and trends.
• Consumer research: Research focused specifically on understanding consumers.

Related Phrases

• Marketing research firm: A company specializing in conducting marketing research.
  • They hired a marketing research firm to survey the target demographic.

Noun

1. research that gathers and analyzes information about the moving of good or services from producer to consumer