Market research, an investigation consists of carrying out different diligence to discover something. The concept also allows naming the search for knowledge and the realization of intellectual and experimental activities to increase the information on a certain subject.
Mercado, on the other hand, is the social environment that enables the exchange of goods and services. It is an institution where sellers and buyers establish a commercial link to carry out exchanges, transactions, and agreements.
The market research, is the process that allows knowing the commercial operation. This procedure must be systematic (with a pre-established plan), organized (specifying the details related to the study) and objective (its conclusions must set aside the subjective impressions).
When carrying out market research, the analyst must collect, process, and analyze information related to different aspects of marketing. The objective is the development of a strategic plan that allows the launch or positioning of products.
The economy, the sociology, psychology, and science communication are some of the specialties that provide theories and techniques for the development of market research.
Well-conducted market research allows us to understand what is happening in the market, determine which are the main trends, who are the competitors of the company, how the products positioned and what are are the needs of consumers. With this data, decision-making at the managerial level is facilitated.