Market research

Market research is any of a variety of techniques aimed at answering the three fundamental questions: (1) What is important to the users? (2) What is the order of the importance? (3) How well do we do in meeting them in that order as compared to the competition?

Definition

According to Juran's Quality Handbook by Defeo (7th edition),

Market research. Any of a variety of techniques aimed at answering the three fundamental questions: (1) What is important to the users? (2) What is the order of the importance? (3) How well do we do in meeting them in that order as compared to the competition?