market research

market research, organized use of sample surveys, polls, focus groups, and other techniques to study market characteristics (e.g., ages and incomes of consumers; consumer attitudes) and improve the efficiency of sales and distribution. Development of new products, opening of new markets, measurement of advertising effectiveness, and knowledge of business competitors are among its basic aims. Developed in the United States in the early 20th cent., the field expanded rapidly after World War II, spreading to Europe and Japan.

The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.

More on market research from Fact Monster:

  • Bartlesville - Bartlesville Bartlesville , city (1990 pop. 34,256), seat of Washington co., NE Okla., on the Caney ...
  • Time Spent in the 90s - How Americans Spent their Time in the '90s More sleep, fewer chores? by Beth Rowen Most adult ...
  • marketing: Modern Marketing - Modern Marketing At all points of the modern marketing system people have formed associations and ...
  • poll: Modern Methods and Trends - Modern Methods and Trends Sampling techniques have become increasingly sophisticated and include ...
  • Charlotte Beers - Charlotte Beers advertising executive Born: 7/26/1935 Birthplace: Beaumont, Tex. Adept at combining ...

See more Encyclopedia articles on: Economics: Terms and Concepts