Marketing research is a formal, systematic process of collecting and analyzing information to better inform decision making. It involves specifying information needs, collecting relevant data, analyzing the data, and communicating the results. The value of marketing research lies in its relevance, quality, timeliness, and completeness of data, information, and knowledge. While striving for objectivity, marketing research also involves both science and art as investigators must be unbiased yet acknowledge limitations and be open to unexpected findings. The research process involves defining the problem, determining the research design and data sources, developing sampling and instruments, collecting and preparing data, analyzing and interpreting results, and communicating outcomes.