Market research provides relevant data to help solve marketing challenges that a business will most likely face--an integral part of the business planning process. In fact, strategies such as market segmentation (identifying specific groups within a market) and product differentiation (creating an identity for a product or service that separates it from those of the competitors) are impossible to develop without market research.
In corporate law and taxes, an affiliate is a company that is related to another company, usually by being in the position of a member or a subordinate role, a subsidiary. According to Investopedia, a subsidiary is a company "whose parent is a majority shareholder." (That means the parent owns 51 percent or more of the other company's shares of stock.