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Definition of Business Research

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❶Also, researchers should always be objective with regard to the selection of information to be featured in reference texts because such literature should offer a comprehensive view on marketing.

BREAKING DOWN 'Market Research'

What is 'Market Research'
Use 'marketing research' in a Sentence
Use 'market research' in a Sentence

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Definition: The process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and.

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Market research is the process of assessing the viability of a new good or service through research conducted directly with the consumer. This practice allows a company to discover the target market and record opinions and other input from consumers regarding interest in the product.

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Market research is an essential component of a business plan for startup businesses - if market research does not indicate a demand for the product or service the proposed business will not likely be viable. The key word in this marketing definition is "process"; marketing involves researching, promoting, selling, and distributing your products or services. It's a huge topic, which is why there are tomes written on marketing, and why you can take a four-year marketing degree.

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Business research looks at the qualitative and quantitative analysis of your target market and establishes if there is a group big enough who is in need or really wants your product or service. Definition of market research: Component of marketing research whereby a specific market is identified and its size and other characteristics are measured. Used also as an alternative term for marketing research.