market research

market research

research undertaken to understand the size and nature of a particular market, together with any significant trends or challenges. This may involve interviews to assess the relative positions of various suppliers in the minds of consumers. For example, a comparison may be made between restaurants that are perceived to offer good service and high-quality food at a low price with those perceived to provide good service and high-quality food at a high price. The term marketing research is used more specifically to mean research into the effectiveness of marketing techniques.