Market research is the systematic gathering, analysis, and interpretation of information about a market, target audience, or industry. It involves collecting data on consumer preferences, buying habits, market trends, and competitor activities to inform business decisions and strategies. Market research methods can include surveys, interviews, focus groups, observational studies, and data analysis of secondary sources.

The insights gained from market research help businesses understand customer needs, identify opportunities for growth, evaluate market demand for products or services, and assess the effectiveness of marketing campaigns. Ultimately, market research is essential for businesses to stay competitive, innovate, and meet the evolving needs of their target market.