Market research is the process of gathering and analyzing information about your business's target market. The main goal is to discover who your customers are and what they want.
Market research helps you answer questions like the following:
- What are the demographics of my target audience?
- What are their interests and buying habits?
- What do they think about my business or industry?
- What problems can I help this group of people solve?
- How can I best connect with them?
Market research analysis is more than simply tracking numbers. It goes one step further by attempting to uncover the “why” behind the numbers.