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Getting Started

Getting Started with Market Research

Market research is absolutely necessary for the success of any new business. Speaking to customers, understanding your market, and keeping on top of emerging trends are just some of the tasks related to market research.

Market research is comprised of two components: primary and secondary research. 

Primary market research involves you directly interacting with potential customers. Gathering information from customers is essential in determining the problems they face, how your product or service could solve their problem, and whether or not they would be willing to pay for it. 

Secondary market research is a compilation of existing data that has been collected and analyzed. This information is communicated in a variety of formats including a newspaper article, an academic journal article, or an industry report. Staying up to date on this information will keep you informed of new trends in the market, disruptive technologies, and help you stay aware of what your competitors are working on.

Market research can help you find answers to just some of the following questions:

  • What is the size of my market?
  • Who are my competitors?
  • Which market is best suited for my product or service?
  • How much will customers pay for my product or service?
  • What are the emerging trends in an industry?

If you're interested in more information, The University of British Columbia has created a helpful 5-minute video providing an Introduction to Market Research.


  • Headshot photo of librarian Phil Taber.
  • Phil Taber (he/him)
  • I am on parental leave until July 2025, please contact David Ross for assistance and referral while I am on leave.
  • Business/Hum. and Lang. Librarian
  • UNB Saint John

Subject Specialties:
Data and Statistics, Maps/GIS, Government Information

Last modified on July 11, 2024 11:00