Introduction to Market Research

Good instincts and intuition certainly play important roles in business. But gut feelings about your customers’ needs and preferences aren’t enough. If you want to minimize risk and improve your chances

Market research is the process of collecting and analyzing information about the customers you want to reach, called your target market. This information provides you with the business intelligence you need to make informed decisions. Market research can help you create a business plan, launch a new product or service, fine tune your existing products and services, expand into new markets, develop an advertising campaign, set prices, and/or select a business location.

Types of Market Research
Market research methods fall into two basic categories: primary and secondary. Your research might involve one or both, depending on your company’s needs.