Which term refers to collecting systematic information about customers and markets to inform decisions?

• A. Market research
• B. Market momentum
• C. Niche market
• D. Market share

Answer: (A)

Market research is the systematic collection and analysis of information about customers, competitors, and markets to guide business decisions. By gathering data on who buys, why they buy, how big the opportunity is, and how competitors perform, it helps you understand real customer needs, estimate demand, and assess risks before launching a product, setting a price, or shaping a marketing strategy. This often involves surveys, interviews, market analysis, and industry reports. This concept is distinct from market momentum (the rate at which a market is growing), a niche market (a small, specialized segment), and market share (the portion of total market sales a company controls).