ENTREPRENEURSHIP

Detailed explanation-1: -While market research is important to gain insight into consumer preferences, poor research practices can lead to inaccurate judgments about what customers want and how they are likely to behave. Biased consumer surveys and jumping to conclusions about survey results are two major sources of market research error.

Detailed explanation-2: -The first step in any marketing research project is to formulate the research design. Formulating an analytical framework along with models, research questions, hypotheses, and the information needed are included in developing an approach to the problem.