Definitions

Definitions

Market research:The process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's target market, the industry as a whole, and the particular competitors you face

~Entrepreneur.com

Primary and secondary research:Primary research is new research, carried out to answer specific issues or questions. It can involve questionnaires, surveys or interviews with individuals or small groups.

Secondary research makes use of information previously researched for other purposes and publicly available. This is also known as 'desk research'. Secondary research includes published research reports in a library, surveys or the Internet.