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Knowing what your player base/audience like and who they are plays a large part in your game as it links into most category of research as it can be both Qualitative and Quantitative and links into marketing research.

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Research is something that is done in order to enhance your understanding on a certain topic. this is perticulay important in the games industy and this padlet wall will tell you why.

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Qualitative research is research that is more detailed research that is done to in order to solve specific problems or to find out specific information Predominantly human factors and is done to gain a better understanding of what consumers whan in there game, A recent bad example of this is how valve have continuously failed to give the CS:GO community what the want (Updated tick rates and hitboxes) but instead gave them 3 sound updates more microtransactions and even introduced new bugs into the game. leading to unhappy gamers/consumers especially for people who competitively.

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Quantitative research is mostly fact based as it mostly number crunching (e.g. 80% of males played this more than this and so forth).
In the games industry this type of research is done for various reason such as predicting how many copies of a game need to be sold, hom players would be playing the came for more than 5 hours a week, home much money would you earn from your sales e.t.c. This is important in the games industry because it means that companies can prepare/predict things. A good example of quantitative research is how Activision predict how many copies of Call Of Duty need to be sold on release date. An example of why you need to do research is when Atari created their console the Atari Jaguar which only sold around 30,000 units and 200,000 where pronounced as unsold.
Some real life examples

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Audience profiling when an audience is sorted into groups/ categorised by specific genres or game types (things they like/dislike). This helps a company see where they should be investing there money in order to get the biggest return cash return possible. Audience profiling is mainly Quantitative research so things like *80% of Call of Duty players are Male.
This is also important because is allows for company to see trends within there target audience and if the company's content is appropriate for there target market. As Well as this audience profiling can be used to tailor your product towards your target market by giving them things they want/are buying (Whats trending) which helps generate cash income.

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This is research done to see the different population in number form. how many gamer are in India compared America which gives them a rough idea of how and where they should spend there money e.g. how much advertisement they should do in America Compared to India.

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Researching what content is appropriate for your target market is a must. if you want to make a game for children yet it includes blood, gore and vulgar language its not going to get the correct age rating e.g. PEGI 18(Pan European Games Information). therefore knowing what is suitable content for your audience is critical because if not done right and your marketing a 15+ game on nickelodeon then non of them/their parents are going to buy your game meaning you loose money on copys sold and advertisment

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This is research done to find out how the player base of a game will react to the decisions that the company choose to go down. an example of what might happen if this research is not done right is when EVE lost out on 1 million because of 1 decision that cause a huge community backlash.
Games such as 'Call of Duty' get lots of hate mid year round when they release there trailers and so on but ultimately there fan base just keep on buying the game no matter how bad it actually is. Activision realise this and therefore arnt afraid to make changes to there game (take it further into the future).

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analyzing your competition is also important if you want to stay ahead of the game. knowing what you opponents are going to be doing and what they have done in the past can help you predict what they might do and therefor what you might do in order to make you product better.
Also you need to be able to see what your competitors are making so your game dose not look similar and is unique which give people a reason to buy your game rather than another company. as well making your game unique means that you are avoiding any copyright/legal issues that you might of encountered if your game was to similar to another company.

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These include things like age ratings "PEGI 3", making sure you don't offend any religions, cultures etc and the amount of money people will have that are buying your game. This research is the bases of all games and really what makes the majority of a game.

China banned battlefield because they were made the "bad guys" in one of the game modes.

Also Activion had to add a skip button on one of there Modern Warfare Campaign missions "No Russian" because it was seen by many to be disrespectful, cruel and demoralising because you shot down innocent Russian people . This was also seen as a cheap tactic as it attracted the attention of the media and therefor the game gained publicity and Activions where brought to public's eye. http://www.zam.com/article/211/revisiting-no-russian-in-the-wake-of-paris.
Making sure you don't offend your target market is important if you want them to buy any sequels of the game you might make.

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This Type of research is Quantitative for example "how many people will buy this game" and therefor "how much money can we spend on it" all of them sort of questions linked into money and so on. A company who didn't do this was Atari which caused the console that was "ahead of it time" to flop as they created a created 4 million consoles and 5 million cartridges meaning 1 million of the cartridges went to waste and they lost out on millions of moneys which in turn almost brought the company to a financial crash.

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Primary research  can be both Quantitative research and Qualitative research. This type of research is conducted by you and is gather by you from people e.g questionnaires, interviews e.t.c and can be used to gather specific information such as when a games release date should be. Primary research is useful because its coming directly from a source which means there inst much room for lies / false info unless it not from a valid source. There are not many negative to primary data except that it might no be correct because change happens over time.
Primary data is better than secondary data because primary data is cheaper because you don't have to pay other company to do the work for you like in Geo demographics and it is done by you so there wont be any room for mistakes.

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Secondary Research is research done through investigating other peoples research (Third parties). Usually done over the internet to confirm any queries you might have or to back up a statement you may have made
Example - https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=secondary+research this supports my definition of secondary research and its also from a reliable and trusted source (Google) which means that i am correct in say that this is the definition of secondary research.
Some more example of where you could fin secondary information is YouTube, Wikipedia, Review sites (IGN, GameSpot) and so on. The advantages of using secondary research is that is can back up your opinions and prove your points. An example of this is when articles use other source to back up there opinion on a game. However if the Secondary research is not from a verified and respected source with good reputations then your information that is backing up your article could be completely false. this has happened in the past where multiple articles were written about the "New Leaked Nintendo NX Controller" when in actual fact it was just someone who had created a random controller in there basement and weeks later released a tutorial on how you can create your own.

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This is the study of how the economy can shape someones personality, believes and values etc.

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Market research is needed because it is used to figure out what your target audience are interested in and therefor how they should market their product so that it dose not flop. The Atari Jaguar is the perfect example of bad marketing.
Market Research is also done by company's in order to find out what there customers want so that they can make the best investments into what product you create, this type of information is critical if you are creating a franchise game as it allows you to improve on your previous game The Call of Duty series is a good example of market research as they improve/try to improve there product each year.
Market research is also important because it allows you to see trends within the games market and your target market which can open up opportunity and advise you on how you should aim you advertisement at your target audience.  For example if your target market it 16 year olds then your not going to advertise your game on a Children's TV Program. its done this way so that the target audience is like.
The Consequences of not doing market research can be huge, if not done right because if the game is not marketed properly then the target audience will not acknowledge your game which could lead to your game flopping as your target market will not buy it. Also If you release your game around the same time as another companies who has market there game properly then they will get all of the attention and a greater cash flow. income because they have drawn all the attention towards their game  meaning your game dose not get the press it needs to succeed.