What is Market Research?

A definition of Market Research

“Market research is the process of gathering, analyzing, and interpreting information about a market, including the needs and preferences of consumers within that market.”

Market Research in Business Glossary - What is Market Research?

Business Glossary > What is Market Research?


Examples of Market Research in a Sentence:

Market research helps companies understand consumer needs.

Conducting market research can reveal new business opportunities.

Accurate market research can guide strategic business decisions.

Why is Market Research Important in Business?

Understanding market research is essential for making informed business decisions. It helps companies identify consumer needs, understand market trends, and assess competition, which can lead to more effective marketing strategies and product development.

Know Your Niche Inside Out by Tomorrow: Learn everything you need to know about a niche from a report rushed to you in 24 hours, (or spend the next 3 weeks researching).

Associated Terms

Here are some associated business terms and synonyms for “Market Research”:

  • Market Analysis
  • Customer Research
  • Consumer Insights

Apple Market Research

Apple conducts extensive market research to understand consumer preferences and design innovative products. Their market research has guided the development of successful products such as the iPhone and iPad, helping them maintain a competitive edge in the tech industry.

Final Notes on Market Research

A strong market research strategy can provide valuable insights into consumer behavior and preferences, informing product development and marketing strategies.


This has been a definition of Market Research meaning.

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