Market Research Fundamentals
Market research is the process of collecting and analyzing information about an industry, competitors, and customer needs to make informed product decisions. It helps product managers understand:
<ul>
<li>Market trends</li>
<li>Customer behaviors</li>
<li>Competitive positioning</li>
</ul>

Market research helps product managers make data-driven decisions about their industry and customers.

What is the purpose of market research?

Primary vs. Secondary Research
<ul>
<li>Primary Research: Direct data collection from customers, users, and experts (e.g., surveys, interviews, usability tests).</li>
<li>Secondary Research: Uses existing data from sources like industry reports, competitor websites, and app store reviews.</li>
</ul>

Primary research involves gathering data directly from customers and industry experts.

Which of the following is an example of secondary research?

Why Market Research Matters in Competitive Analysis
Market research helps product managers:
<ul>
<li>Identify market opportunities and gaps</li>
<li>Prioritize features based on customer needs</li>
<li>Understand competitor strengths and weaknesses</li>
<li>Inform pricing, positioning, and marketing strategies</li>
</ul>

Market research helps identify market gaps and opportunities.

How does market research support competitive analysis?