What is Market Research?

The generation of understanding & knowledge of a market place and its behaviour – by obtaining information (data) from specific samples of consumers/ businesses and extrapolating results to their population as a whole.

1. We must obtain informed consent from respondents, willingly given, to collect and use their data, ensuring they clearly understand why we’re collecting the data and how it will be used.
2. We must observe the rights of respondents, including confidentiality, anonymity, and the right to withdraw at any stage.
3. We must keep Market Research separate from any form of promotion.
4. We must never use Market Research as a vehicle for disguised promotion.
5. We must forward any adverse events raised during a study to fulfil our responsibility to e.g. drug safety – without compromising respondents’ rights to anonymity and confidentiality.