A focus group is a form of qualitative research in which a group of people are asked about their perceptions, opinions, beliefs, and attitudes towards a product, service, advertisement, or idea.
Questions are asked in an interactive group setting where participants are free to talk with other group members.
Market research is any organized effort to gather information about target markets or customers.
It is a very important component of business strategy and the term is commonly interchanged with marketing research;
Marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets.
Market research is a key factor in maintaining competitiveness over competitors and provides important information to identify and analyze the market need, market size and competition. Market-research techniques encompass both qualitative techniques such as
- focus groups,
- in-depth interviews, and
- quantitative techniques such as
- customer surveys, and analysis of secondary data.
Market research is the systematic gathering
and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making.