Market research
Market research is the systematic collection and analysis of information about customers, competitors, and markets to guide business decisions.
Marketing research process: A structured sequence for defining a marketing problem, gathering evidence, and using findings to guide decisions. It organizes market research from the initial business question through recommendations.
Customer satisfaction: A customer's evaluation of how well an experience or offering meets expectations and needs. Satisfaction studies identify service gaps and assess changes in customer experience.
Marketing research: The systematic study of marketing problems, including products, promotion, distribution, and customers. It is broader than market research, which centers on markets, customers, and competitors.
Nonresponse bias: Bias that occurs when people who do not participate differ systematically from those who do. Low participation can make a market study misrepresent the intended customer population.
Research design: A plan specifying the questions, methods, data, and analysis used in a study. It determines which evidence can answer a market research question.
Brand tracking: Repeated measurement of a brand's awareness, perceptions, and performance over time. Ongoing research shows whether brand strength changes after market activity.
Business intelligence: Methods and technologies that transform organizational data into information for business decisions. It often analyzes internal operational data, while market research investigates external markets.
Response bias: Systematic distortion in answers caused by question wording, survey conditions, or respondent behavior. Reported preferences may reflect how questions are asked rather than genuine market views.
Sampling (statistics): The selection of observations from a population to estimate characteristics of that population. Market studies use samples to learn about customer groups without surveying everyone.
Product development: The process of turning an idea into a product ready for use or sale. Customer research helps identify needs and test concepts before launch.