introduction

Definition of Research Research always starts with a question to which we seek an answer using scientific methods. We define the question as a ‗Problem‖. Research is often described as an active, diligent, and systematic process of inquiry aimed at discovering, interpreting and revising facts.  The word research is derived from the French language; its literal meaning is 'to investigate thoroughly'. Undertaking research is basically applying scientific methods to find solution to a problem. It is a systematic and explorative study carried out to analyse and apply various solutions to a defined problem. Research can be classified into two broad categories:
 1. Basic Research and  
2. Applied Research 
Basic research Basic research is also called fundamental or pure research. As the name itself refers, Basic Research is of basic nature which is not carried out in response to a problem. It is more educative, towards understanding the fundamentals and aim at expanding the knowledge base of an individual or organisation. It does not have any commercial potential.
 Applied research Applied Research on the other hand is carried out to seek alternate solutions for a problem at hand. Applied research is done to solve specific, practical questions; its primary aim is not to gain knowledge. It specifies possible outcomes of each of the alternatives and its commercial implications. Applied research can be carried out by academic or industrial institutions. Often, an academic institution such as a university will have a specific applied research program funded by an industrial partner interested in that program. Electronics, informatics, computer science, process engineering and drug design are some of the common areas of applied research. Applied research can further be divided into: 
1. Problem-solving research : It involves research oriented towards a crucial problem facing the organisation which may be issue specific. Ex: How do we improve the communication skills of our employees?
 2. Problem-oriented research : The research is oriented towards a crucial problem facing the organisation. It is undertaken inside the organisation or by an external consultant on its behalf. This research is conceptual in nature and newer innovative techniques of problem-solving are applied. Ex: How to improve the production yield from machine X using modern techniques? 

Reasons for research 

1 Understanding the Market: Product research provides insights into market trends, emerging technologies, and shifts in consumer behavior. It allows PMs to position their products effectively and anticipate market changes.

2. Identifying Customer Needs: PMs need to understand their users deeply. Research uncovers the target audience's pain points, desires, and needs, ensuring that the product aligns with what customers genuinely want.

3. Validating Assumptions: Assumptions can be dangerous if not validated. Product research helps test hypotheses, ensuring that decisions are based on accurate data, not just gut feelings or intuition, to avoid making mistakes.

4. Risk Reduction: Launching or updating a product involves significant resources and costs. Research reduces the risk of product failure by ensuring a genuine market demand and fit for the product.

5. Informed Decision Making: Product research provides concrete data, a foundation for making informed product decisions, from feature prioritization to design choices.

6. Building a Competitive Advantage: By understanding the competitive landscape, PMs can identify gaps in the market, differentiate their products, and highlight unique selling points.

7. Optimizing Pricing: Through research, PMs can identify the right pricing strategy by understanding customers' willingness to pay and analyzing competitor pricing.

8. Improving User Experience: Usability testing, a component of product research, identifies potential design or functionality flaws, ensuring that the end product provides an optimal user experience that enhances product adoption.

9. Prioritizing Development: Research helps determine which features or improvements will have the most significant impact, guiding resource allocation and development priorities.

10. Enhancing Marketing and Sales Efforts: Insights from product research provide valuable information for crafting marketing messages, positioning, and sales strategies.

11. Stakeholder Alignment: Presenting research findings can align stakeholders around a shared product vision and objective, from developers to executives.

12. Continuous Improvement: Post-launch research, like user feedback and analytics, ensures that products evolve based on real-world usage and feedback.

13. Building Empathy: Engaging directly with users during research helps PMs develop empathy and improve retention, which is crucial for user-centric product development.