This document discusses market research, including its definition, purpose, process, types, techniques, and limitations. Market research is defined as the systematic process of gathering and analyzing information to improve marketing decision-making. It helps companies understand customer needs and behaviors. The key purposes of market research are to strategize marketing plans, reduce costs, and introduce products that create value for customers. Both quantitative and qualitative techniques are used to gather primary and secondary data. The overall market research process involves specifying the problem, collecting and analyzing data, and communicating findings. Limitations include cost, time constraints, and the lag between research and application.