What is Marketing Research?
They gather and analyze market information to inform customers about the best way to offer a product or service. Marketing research is based on the principles of scientific inquiry and should be goal-oriented and systematic. Standard methods are focus groups, one-on-one customer interviews, online or telephone customer surveys, and A/B testing different advertising tactics.
Example
A smartphone manufacturer researches consumer preferences, competitor offerings, and market trends before launching a new model. They use surveys, competitor, and market trend analyses to inform their marketing strategies and product development decisions.