Market research is one of the most useful marketing tools available, because it concerns a systematic study of a defined submarket. It is the aim of such projects to recognize market trends, opportunities and risks of the company within the relevant markets at an early stage. A thorough market research operation can prevent a company from heading down the wrong bath and provide a sound basis for strategic and functional marketing operations. Establishing focus groups and qualitative customer surveys contribute crucially to information gathering with respect to general market characteristics and developments as well as the company's current market position, customer behavior and needs, as well as customer satisfaction and loyalty.

Market analysis provides a basis for strategic decision making. The information gained from this analysis is an essential input for strategic planning, analysis and potential corporate redirection. Therefore, it is advisable to carry out a detailed market analysis before offering new products of services.
Questions that should be answered are :What is the current market situation? Where are the core markets and what will become a trend? Who are my competitors and how are they positioned? What is the perception of my company and how satisfied are my customers? These and similar questions will be answered within the framework of market, competitive or customer satisfaction analysis. In addition we can predict trends in strategic relevant markets and make forecasts for future business.