What Is Market Research?

What is market research? Definitions and schedule many people hear the term market research almost every day. If it is active but not just in mentioned area, you don’t know then often what exactly one should understand by market research. This is probably because that depending on the angle of view of facts refers to market research. The market research is the systematic acquisition, processing and analysis market-relevant information, open, specific marketing questions should be answered. On the other hand, the entire solution process of market-related business problems by using the analysis of information on the relevant market is meant by market research. In addition, the based on scientific methods and objective process of the observation of the markets and the business environment is regarded as market research.

This is used for information gathering and analysis and to assist in making or hedging of marketing decisions. The market research is one of the most important tools of marketing and conducted by market research institutes in many cases. As already mentioned the instrument of market analysis as an important component is, underlying regardless of perspective and thus definition of market research. However, market research is not limited to the field of marketing. Also for other divisions such as controlling or sales, market research represents a very useful tool in departmental decisions. Usually, in market research, depending on the question, project-oriented work and is often based on empirical data. In addition, the Division of the market research in primary market research, which is an initial and direct examination of a particular market field, or secondary market research, the findings obtained data already collected or already conducted market research projects are evaluated when the is.