The prolific growth of the Internet and Web2.0 has been a boon for market researchers in that it has simplified the process of collecting and generating quality market data.To run a successful small business these days, conducting effective market research is a must. Market research is a dynamic process focused on understanding the relationship between consumers and a particular product or company. It involves the systematic collection and analysis of consumer and economic data including economic reports and industry trends as well as consumer attitudes and behaviors.Armed with this information, businesses can adjust their policies and strategies so that they are in line with current market realities. The Internet makes it easier for business owners to find out what their competitors are doing. A simple Google search of a company’s name, for example, will provide a snapshot of who is linking to their site and what people are saying. Check out your competitor’s website to get a feel for the customer’s experience and get information on the kinds of products and/or services they are offering.