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Healthcare Glossary
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Market research
The collection and analysis of data concerning a company's products, customers and markets places. Primary and secondary research tools are used to understand these elements and help a company make successful decisions. Research conducted with a target audience in response to a specific, one-time-only market need is known as ad-hoc market research.
Market Research is recognised as a valuable tool to get the advantage over competitors. Market research provides important information needed to identify and study the market need, market opportunity and competition.
See also:
Marketing strategy
Market Attractiveness
Market Development
Market Entry
Related terms
Respondent, Local advertising, List price, Coverage, Knowledge management, Ad recall, Product class, Omnibus survey, Models (or marketing models), Relative market share, Cartel, Focus groups, Advertising agency's commission, Strategic business unit (SBU), Group dynamics,
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