Marketing research

Research is the search for and retrieval of existing, discovery or creation of new information or knowledge for a specific purpose. Research has many categories, from medical research to literary research. Marketing research (also called consumer research) is a form of business research. It is a form of applied sociology which concentrates on understanding the behaviours, whims and preferences, of consumers in a market-based economy. The field of marketing research as a statistical science was pioneered by Arthur Nielsen with the founding of the ACNielsen Company in 1923.

Other types of business research

In addition to marketing research, other forms of business research include:

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• Market research is broader in scope and examines all aspects of a business environment. It asks questions about competitors, market structure, government regulations, economic trends, technological advances, and numerous other factors that make up the business environment. (See Environmental scanning.) Sometimes the term refers more particularly to the financial analysis of companies, industries, or sectors. In this case, financial analysts usually carry out the research and provide the results to investment advisors and potential investors.
• Product research - This looks at what products can be produced with available technology, and what new product innovations near-future technology can develop. (see New Product Development)
• Advertising research - This attempts to assess the likely impact of an advertising campaign in advance, and also measure the success of a recent campaign.