For example, a company that was considering going into business might conduct market research first to test the viability of its product or service idea. If the market research confirms that company’s predictions, they can proceed confidently with their business plan. If not, they can use the results of the market research to make adjustments and do additional testing. Though market research can be expensive and time consuming, it should be less expensive and time consuming than fully developing and bringing to market a new product or service that will generate little or no interest from potential customers.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
market-research — market research … Dictionary of sociology
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market research — ► NOUN ▪ the activity of gathering information about consumers needs and preferences … English terms dictionary
market research — n. the study of the demands or needs of consumers in relation to particular goods or services … English World dictionary
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market research — A technical analysis of factors such as volume, price trends, and market breadth that are used to predict price movement. Bloomberg Financial Dictionary * * * market research market research ➔ research * * * market research UK US noun [U] (also … Financial and business terms
market research — the gathering and studying of data relating to consumer preferences, purchasing power, etc., esp. prior to introducing a product on the market. [1925 30] * * * Study of the requirements of specific markets, the acceptability of products, and… … Universalium
market research — noun research that gathers and analyzes information about the moving of good or services from producer to consumer • Syn: ↑marketing research • Hypernyms: ↑research • Hyponyms: ↑market analysis, ↑product research, ↑consumer research … Useful english dictionary
market research — Qualitative and quantitative research on the tastes, values, and perceptions, on the personal, household, and neighbourhood characteristics, and on the purchasing behaviour, of individual consumers of (or industrial customers for) equipment and… … Dictionary of sociology
market research — N UNCOUNT Market research is the activity of collecting and studying information about what people want, need, and buy. A new all woman market research company has been set up to find out what women think about major news and issues … English dictionary