I see things differently than Jacob and Travis put it.
Market research would be to analyze the market, competitors, business opportunities, etc. and determine there is a niche available for new razor that combines the ease of use of a disposable razor, but provides an upmarket, luxury experience that focuses on design and references traditional shaving methods.
User research would be to see how people use their razors, how often they shave, where they shave, where they buy razors and what kinds of products they buy that are commodities or luxuries.
The result of both in my hypothetical situation might be something like this-
http://www.theartofshaving.com
R