Market research is the primary topic of chapter 4. Market research refers to the general process of collecting, analyzing, and interpreting information about customers, competitors, and the business environment in order to improve marketing effectiveness. One market research tactic involves the use of focus groups. After a marketing team has narrowed down the public to the target market for their product/service, some researchers choose to take their actions a step further using focus groups. A Focus group is a group of similar consumers in the same target market that is paid to meet and discuss a vendor's product or service. The discussion is centered around the 4P's and consumer perceptions, evaluations and opinions of a product or service. Focus groups are an important part of market research in a sense that they provide first-hand reactions and opinions toward a product or service and, afterward, marketing teams can edit/reevaluate their product or service so that it is specifically tailored to their target market and their assumed reactions.
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