Market Research

Marketing research is defined as a series of activities designed to identify customer needs and
wants, and satisfy these while making a reasonable profit on a quality product or service.

These activities include market research and analysis. Most entrepreneurs believe that market
research and analysis is something that only marketing professionals and statisticians are able to do. This is not the case. Marketing research is simply an orderly, objective way of learning about your potential customers and your competition.  

Marketing research doesn't have to be complex and expensive.  Moreover, it is not a perfect
science; it deals with people and their constantly changing likes and dislikes which can be

affected by hundreds of influences, many of which simply cannot be identified.