systematic collection and analysis of data relating to sale and distribution of financial products and services. Market research is an early step in the marketing process, and includes an analysis of market demand for a new product, or for existing products, as well as appropriate methods of distributing those products. Techniques in market research include telephone polling and focus group interviews to determine customer attitudes, pricing sensitivity, and willingness to use delivery alternatives. Most large banks have their own market research departments that evaluate not only products, but their bricks and mortar branch banking networks through which most banking products are sold.
exploration of the size, characteristics, and potential of a market to find out, usually before developing a new product or service, what people want and need. Market research is an important step in marketing; it stretches from the original conception of a product to its ultimate delivery to the consumer.
exploration of the size, characteristics, and potential of a market to find out, before developing any new product or service, what people want and need. Market research is an early step in marketing-which stretches from the original conception of a product to its ultimate delivery to the consumer.
In the stock market, market research refers to technical analysis of factors such as volume, price advances and declines, and market breadth, which analysts use to predict the direction of prices.
gathering, analyzing, and interpreting data concerning market conditions; feasibility study.
Example: Market research typically includes a detailed data collection phase, whereas market analysis focuses principally on interpreting data that have already been collected.
