ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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helps by identifying key issues and avoiding costly mistakes with a product
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to analyze past sales data
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to determine the impact an advertisement has
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to get consumer opinion about your brand
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Detailed explanation-1: -Market research allows companies to understand the demand and viability of their product and to see how it might perform in the real world. Market research is conducted either through primary information or secondary information, both providing unique insights into a company’s offering.
Detailed explanation-2: -Market research involves gathering and analyzing information about the overall market environment, prospective customers, and competitors for your product or service. For product managers, this helps you formulate a nuanced worldview of the opportunities and threats that exist for your offering.
Detailed explanation-3: -Define your research goals. Understand your users. Do market research for your product. Get to know industry trends. Validate ideas with current or potential users. Test your MVP. Continue research after the product launch. More items