Market research
Market Research
Market Research (pronunciation: /ˈmɑːkɪt rɪˈsɜːrtʃ/) is a systematic process of gathering, analyzing, and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present, and potential customers for the product or service.
Etymology
The term "Market Research" is a combination of the words "market" and "research". The word "market" comes from the Latin "mercatus", meaning a place where business is conducted. The word "research" comes from the Old French "recercher", meaning to seek out or search closely.
Related Terms
- Market Analysis: The process of determining the attractiveness and the dynamics of a special market within a special industry.
- Marketing Strategy: A long-term, forward-looking approach and an overall game plan of any organization with the fundamental goal of achieving a sustainable competitive advantage by understanding the needs and wants of customers.
- Consumer Behavior: The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.
- Data Analysis: A process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making.
See Also
External links
- Medical encyclopedia article on Market research
- Wikipedia's article - Market research
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