Market research is the identification of a specific market and study of the size, location and other characteristics. Market research tends to be factual and statistic based and can be described as the who or what of customers and markets.
Market segmentation is the process of aggregating customers into groups based on common characteristics and needs, where they are expected to respond similarly to marketing actions. Common types include geographic, demographic, psychographic (e.g. lifestyle, personality, values), and behavioral (e.g. level of product usage).
Market share compares sales for one product brand against total sales for all brands of the product.
Trends are the general direction of markets or prices and can vary in length from short, intermediate and long term.
Trade associations related to a product or service are important sources of information for market research.