What type of research focuses specifically on trends and preferences among consumers?

Market research is specifically designed to gather information about consumers' preferences, behaviors, and trends in the marketplace. This type of research employs a variety of methods such as surveys, interviews, focus groups, and observational studies to understand what consumers want, how they think, and what influences their purchasing decisions. The primary objective is to gain insights that can inform business strategies, product development, marketing campaigns, and overall decision-making to better meet consumer needs.

In contrast, competitive analysis focuses on examining competitors to understand their strengths and weaknesses relative to a business. Product testing assesses the functionality and appeal of a product directly from consumer feedback but does not aim to broadly capture market trends or preferences. Sales forecasting uses historical sales data to predict future sales but is not primarily concerned with consumer behavior or preferences that drive those sales. Thus, while all the options relate to business strategies, market research uniquely emphasizes the collective insights into consumer trends and preferences, making it the correct choice in this context.