English · Work & Business
market research
/ˈmɑːr.kɪt rɪˈsɜːrtʃ/
[/ˈmɑːr.kɪt rɪˈsɜːrtʃ/]
study of customers and markets
Intermediatenoun
Definition
The activity of collecting information about what customers want and how a market behaves.
Example
Market research showed that younger buyers preferred bright colors, so the design was changed.
Market research showed that younger buyers preferred bright colors, so the design was changed.
Etymology
A compound of 'market' and 'research', a 20th-century business term.
How & Where It’s Used
Used in marketing and product development.