Market research is the process of gathering information about products, services, markets, customers, and competitors in order to make informed business decisions. It involves collecting data on customers’ wants, needs, perceptions, preferences, lifestyles, and behavior, as well as demographic data such as age, gender, location, income, and education. This data is then analyzed in order to understand customer behaviour and to identify market trends and opportunities. Market research helps organizations make effective decisions, such as where to allocate resources and which products and services to focus on.