Market Research study of a market or potential market for a company’s product. Market research is done before developing or changing a product to ensure that there is demand for the product and that the product will be distinct from similar products. Market research involves surveying current and potential customers about what types of products or services they might want. It also may involve looking at other research conducted on the demographics of a region or a group of potential customers.
Market research. (2003). In Webster's new world finance and investment dictionary. Retrieved from https://libproxy.usc.edu/login?url=http://search.credoreference.com.libproxy.usc.edu/content/entry/wileynwfid/market_research/0