Market Research for Dummies
noun
pronunciation: 'mɑrkɪt_rɪ'sɜrʧWhat does Market Research really mean?
Alright, so "Market Research" may sound like a fancy term, but it's actually pretty simple. You know when you're trying to decide what video game to buy, and you ask your friends which one they like best? You're basically doing your own little market research!
So, market research is all about studying what people like and don't like about certain products or services. It's like taking a big, detailed look at what makes people tick when it comes to shopping or using stuff.
Companies use market research to figure out what people want and need, so that they can make better decisions about what to sell and how to sell it. They might do things like surveys, interviews, or observations to gather all this info. It's kind of like they're doing detective work to crack the code of what makes people want to buy things.
In a nutshell, market research is all about digging deep into what people think and feel about different products and services, so that companies can make smart choices about what to offer to their customers. Pretty neat, huh?
So, market research is all about studying what people like and don't like about certain products or services. It's like taking a big, detailed look at what makes people tick when it comes to shopping or using stuff.
Companies use market research to figure out what people want and need, so that they can make better decisions about what to sell and how to sell it. They might do things like surveys, interviews, or observations to gather all this info. It's kind of like they're doing detective work to crack the code of what makes people want to buy things.
In a nutshell, market research is all about digging deep into what people think and feel about different products and services, so that companies can make smart choices about what to offer to their customers. Pretty neat, huh?
Revised and Fact checked by Emily Davis on 2023-12-09 17:34:32
Market Research In a sentece
Learn how to use Market Research inside a sentece
- Before launching a new product, companies often conduct market research to understand what their target customers want.
- A restaurant may use market research to determine the most popular cuisines in the area before creating its menu.
- A clothing store can use market research to find out which colors and styles are preferred by customers in order to stock the most popular items.
- An electronics company might use market research to see which features are most important to customers when purchasing a new smartphone.
- A car manufacturer may conduct market research to understand what features and price points are most attractive to potential car buyers in different regions of the country.
Market Research Synonyms
Words that can be interchanged for the original word in the same context.
Market Research Hypernyms
Words that are more generic than the original word.
Market Research Hyponyms
Words that are more specific than the original word.