marketing research

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Marketing Research

Definition:
Marketing research is a noun that refers to the process of gathering and analyzing information about how goods or services are sold from producers (the people or companies that make products) to consumers (the people who buy and use those products). It helps businesses understand what customers want, how much they are willing to pay, and how to sell their products effectively.

Usage Instructions:

• Use "marketing research" when discussing strategies for a business to understand its market or customer preferences.
• It is often used in business contexts, such as during discussions about product launches, advertising, or sales strategies.

Example:

• "Before launching the new smartphone, the company conducted extensive marketing research to find out what features consumers wanted most."

Advanced Usage:

• Marketing research can be divided into two main types:
  • Primary Research: This involves collecting new data directly from people, such as surveys or interviews.
  • Secondary Research: This involves analyzing existing information, such as market reports or academic studies.

Word Variants:

• Market Research: Often used interchangeably with "marketing research," it focuses more on the overall market, including competitors and market trends.
• Consumer Research: A more specific term that focuses primarily on understanding consumers' preferences and behaviors.

Different Meanings:

While "marketing research" primarily refers to studying consumer behavior and market conditions, the terms "marketing" and "research" can be used separately in different contexts: - Marketing can refer to the overall process of promoting and selling products or services. - Research can refer to any systematic investigation to establish facts or principles.

Synonyms:

• Market analysis
• Consumer studies
• Product research
• Sales research

Idioms and Phrasal Verbs:

While there are no specific idioms or phrasal verbs that directly incorporate "marketing research," here are some related expressions: - "Do your homework": This means to prepare well by gathering information, similar to conducting marketing research before making a decision. - "Get the lay of the land": This means to understand a situation or environment, much like how marketing research helps businesses understand the market before launching a product.

Summary:

In summary, marketing research is a crucial tool for businesses to understand their customers and improve their products or services. It involves gathering and analyzing information, and it can take many forms, including surveys, interviews, and studies.

Academic

Noun

1. research that gathers and analyzes information about the moving of good or services from producer to consumer

Synonyms

• market research