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market research
/mˈɑːɹkɪt ɹɪsˈɜːtʃ/
/mˈɑːkɪt ɹɪsˈɜːtʃ/
Market research
01
the act of gathering information about what people need or buy the most and why
Examples
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.
