Market research is the process of collecting and analysing data about your industry, competitors, and customers. It helps you make informed decisions by understanding what people want, how they behave, and what trends are shaping your market.
There are two types of market research: primary (which you conduct yourself, like surveys or interviews) and secondary (which uses existing data from reports or publications). Whether you’re launching a new product or improving your current offer, research helps reduce risk and spot opportunities. In short, it keeps your marketing grounded in reality.
See: Understanding AI and How it Sources Information – Marketing Made Clear article