WordNet-Online
Free dictionary and thesaurus of English. Definitions, synonyms, antonyms and more...
Hint: double-click any word to get it searched!

	Enter your search terms Submit search form
	Web www.wordnet-online.com

Definitions from WordNet

Definitions from the Web

Term: Product Research

Description:

Product research refers to the systematic process of gathering, analyzing, and interpreting information about a specific product or market. It involves studying various aspects such as customer needs, market trends, competitors, and product features to make informed decisions regarding the development, improvement, and marketing of a product.

Senses:

1. Sense: General

   In a general sense, product research aims to understand the market demand, competition, and customer preferences to create successful products that meet consumer needs.

   Example Sentence:

   Effective product research can provide valuable insights into consumer behavior and help businesses develop innovative solutions.

2. Sense: E-commerce

   In the context of e-commerce, product research involves analyzing marketplaces, identifying profitable niches, and evaluating potential products for sale on platforms like Amazon.

   Example Sentence:

   Before launching a new e-commerce business, conducting thorough product research is essential to identify high-demand items and avoid market saturation.

3. Sense: Business Strategy

   Product research plays a vital role in shaping a company's business strategy, involving the identification of new product opportunities, market gaps, and potential competitive advantages.

   Example Sentence:

   The company's success can largely be attributed to its effective product research which helped them introduce groundbreaking products that revolutionized the industry.

Related Products:

To enhance your understanding of product research, you may find the following products useful:

• Market Research Books
• Product Development Tools
• Competitive Analysis Software