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Benefits of market research in business

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1. It helps businesses strengthen their position.  2. It minimizes any investment risk.  3. It identifies potential threats and opportunities.  4. It helps to discover yours's and your competitor's strengths and weaknesses.  5. It facilitates strategic planning.  6. It helps in spotting emerging trends.  7. It assists businesses to stay ahead of the competition.  8. It provides revenue projections.  9. It focuses on customer needs and demands.  10.  It helps to evaluate the success of a business against benchmarks. 

Importance of market research

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Importance of market research in business new startup and exiting business. 1. Determining market needs 2.Formulating market strategies 3.Target dissatisfied customers 4.Identifies potential customers 5.Lower business risks 6.Identify opportunity 7.Competitor analysis 8.market research finds new opportunities. 9.Market research forecasts future trends. 10.Helps set realistic goals 11.Staying ahead of the competition 12.Identify new customers 13.Improving product development and positioning 14.Establishes product or service viability. 15.Improving selling activities 16.Primary market research 17.Helps analyze competition 18.Industry analysis https://rushimarketresearch.in/

Why is Market Research important for a Business ?

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  For many businesses, Market Research is a key component in developing marketing strategy by providing a fact - based foundation for estimating wise decisions that drive business forward and poor decisions that can damage your business.  1. It helps businesses strengthen their position. 2.  It minimizes any investment risk. 3.  It identifies potential threats and opportunities. 4.  It helps to discover yours's and your competitor’s strengths and weaknesses. 5.  It facilitates strategic planning. 6.  It helps in spotting emerging trends. 7.  It assists businesses to stay ahead of the competition. 8.  It provides revenue projections. 9.  It focuses on customer needs and demands. 10.  It helps to evaluate the success of a business against benchmarks.