Browse Definitions :
Definition

marketing research

Marketing research is the study of a given market in order to optimize product promotion and ensure that inbound and outbound marketing initiatives are cost-effective. Marketing research is often carried out to guide changes in product features and delivery schemes.

A company may perform its own marketing research or hire a third-party consultants. A company’s efforts to see if their marketing initiatives address the needs of their customer base might include the use of focus groups. Marketing research efforts often also include the use of consumer panels to test ongoing changes in products and marketing and gather customer feedback. Another increasingly common and fast way for prominent companies to gather consumer opinions is through monitoring sentiment in customer communication and interaction on social media sites.

Companies perform marketing research to ensure marketing initiatives consistently demonstrate a return on investment (ROI) . Although marketing research costs can be significant, they can also help ensure a product or service is promoted to the right customer base. When a product has been assured of meeting customer expectations in price, reliability and functionality, it can have a much lower risk of failure in a market.

This was last updated in July 2017

Continue Reading About marketing research

SearchCompliance

  • compliance risk

    Compliance risk is an organization's potential exposure to legal penalties, financial forfeiture and material loss, resulting ...

  • information governance

    Information governance is a holistic approach to managing corporate information by implementing processes, roles, controls and ...

  • enterprise document management (EDM)

    Enterprise document management (EDM) is a strategy for overseeing an organization's paper and electronic documents so they can be...

SearchSecurity

  • principle of least privilege (POLP)

    The principle of least privilege (POLP) is a concept in computer security that limits users' access rights to only what are ...

  • biometric authentication

    Biometric authentication is a security process that relies on the unique biological characteristics of individuals to verify they...

  • denial-of-service attack

    A denial-of-service (DoS) attack is a security event that occurs when an attacker makes it impossible for legitimate users to ...

SearchHealthIT

SearchDisasterRecovery

  • risk mitigation

    Risk mitigation is a strategy to prepare for and lessen the effects of threats faced by a business.

  • call tree

    A call tree is a layered hierarchical communication model that is used to notify specific individuals of an event and coordinate ...

  • Disaster Recovery as a Service (DRaaS)

    Disaster recovery as a service (DRaaS) is the replication and hosting of physical or virtual servers by a third party to provide ...

SearchStorage

  • cloud storage

    Cloud storage is a service model in which data is transmitted and stored on remote storage systems, where it is maintained, ...

  • cloud testing

    Cloud testing is the process of using the cloud computing resources of a third-party service provider to test software ...

  • storage virtualization

    Storage virtualization is the pooling of physical storage from multiple storage devices into what appears to be a single storage ...

Close