market research
1
the act of gathering information about what people need or buy the most and why
- Before launching the new product, the company conducted extensive market research to understand consumer preferences and trends.
- Market research revealed that there was a gap in the market for eco-friendly alternatives, prompting the company to develop sustainable packaging.
- The success of the advertising campaign was attributed to thorough market research, which identified the target audience's needs and desires.
- Market research indicated a shift in consumer behavior towards online shopping, prompting retailers to invest more in their e-commerce platforms.
- The company's decision to expand into new markets was informed by comprehensive market research, which highlighted emerging opportunities and potential challenges.
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