Generally considered the most popular form of market research, this research method has the objective of providing an accurate description for something that is occurring (e.g., monthly sales volume, customer preference).
A process for setting the initial price for a product that relies on analysis of market research to determine what customers perceive as an acceptable price and includes such methods as Backward Pricing, Psychological Pricing and Price Lining.
Companies that function as intermediaries in the research market by acquiring access to information, such as research reports, from producers of the research (e.g., market research companies) and then selling this information to those seeking research (e.g., marketer developing a new product).
A key element of a target marketing strategy in which large markets, where customers possess different characteristics, is divided into smaller market segments in which customers are grouped by characteristic shared by others in the segment.
Represent characteristics of a market that allow marketers to create customer grouping (i.e., market segments) and range from broad characteristics, such as demographics, to individually specific characteristics, such as personal product usage.