Market research is possibly the most important thing standing in the way of having success and being a failure. It is used throughout the business world in every imaginable industry. It determines an optimal price for a product, the demand for that product, what people like or dislike about that product and how to market that product.

Market Research does take time and some patience, but not alot. That is why it is so wildly used by companies. In particular the film and tv industry use quite frequently to gauge an audiences reaction to certain shows to better market those shows as well as decide whether or not to cancel a show or not.

One show in particular, Community went thru extensive testing as executives at NBC were unsure about the prospect of the show. However they gave it the go ahead. A more important role that market research can play for this show is time scheduling. Using audience demographics the network can determine an optimal time to place the show in the schedule. For example place a show too early and the younger audience will not watch in greater numbers, but put it too late and it could alienate older audiences.

In all market research is a very crucial element of business that can be easily looked over as it hides behind the scenes most of the time. It is important to do your research before you embark on any sort of business venture or you could end up being an air conditioner repairman.