Market research refers to the process of collecting, analyzing and interpreting data about a particular market or consumer behavior. It involves gathering information about customers' needs, preferences, habits, and opinions through various methods such as surveys, focus groups, and online polls. The goal is to understand the target audience better so that businesses can make informed decisions when it comes to product development, pricing strategies, marketing campaigns, and overall brand positioning. Market research helps companies identify opportunities and threats in the market, stay ahead of competitors, and optimize their operations for maximum profitability.