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Market research is the process of investigating the demand for a particular product, establishing consumer or political behaviour, and measuring reaction to particular business decisions.  It is an all-encompassing process, designed to extract information which can subsequently be used by businesses to make strategic decisions more suited to the needs of their target demographics.   
Market research can prove useful in determining consumer habits, or responsiveness to a particular business decision you have already or are about to take, such as whether to launch a new type of service offering, or whether your new branding campaign has struck a chord with your desired market segment. 
Market research agencies tend to prove good value for money when conducting market research projects, because the process itself tends to be labour intensive and intricate.  As well as collecting data from surveys, questionnaires and field testing, the market research company will also compute and interpret their findings to provide meaningful conclusions upon which future business decisions can be based.

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