Peter Chisnall (1992)1 points out that although the term 'market research' is now largely used as a synonym for 'marketing research' there was originally a distinct difference between the scope of the activities they covered. Some confusion has been caused by the term 'market research' being rather freely used to describe the full range of activities properly covered by marketing research. Chisnall (1992) notes, however, that market or marketing research is essentially about the disciplined collection and evaluation of specific data in order to help suppliers to understand their customer needs better. Moreover, since decision making necessarily involves some element of risk, the collection and evaluation of such data should be used to reduce and control, to some degree, the parameters of risk surrounding particular marketing proposals.
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