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Market research

Market research is any organized effort to gather information about markets or customers. It is a very important component of business strategy.The term is commonly interchanged with market research agency; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets.

Market research is a key factor to get advantage over competitors. Market research provides important information to identify and analyze the market need, market size and competition.

Market research, includes social and opinion research, [and] is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making.

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