market research, gathering and analysing of data about market and consumers Flashcards
definition
finding a market and how they can best attract users to buy the product by gaining a greater understanding of the users experience of a product. it helps to refine ideas to create a successful product and decode and explore the factors that influence why people buy certain products
methods of market research
interviewing end users asking them questions
gaining feedback on existing products, let existing end users chat about what they do and don’t like in the product
questionnaires : simple questions filled out by end users
sales data
user trials
focus groups
surveys
difference between r+ d and market research
market research finds out what people want in products and who will potentially buy them,
research and development is about innovation and investigating or experimenting to gain new knowledge that could be useful in creating new products, processes, services or improving existing ones
