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Tuesday, August 25, 2015

Why Market Research is Important ?

Market Research is the key to a new business becoming a profitable entity. It anticipates and minimizes risk, identifies potential customers and helps ensure success.

Finding customers is the most difficult part of running a business and only about half of new small businesses will survive 5 years. To ensure yours is a survivor, it is vital to comply with the here-under instructions before you invest your time and money in a new venture:

Ø  Learn how to research your market.
Ø  Identify potential clients.
Ø  Have a strategy for attracting them.

Market Research, or Business Intelligence as it is sometimes called, is a vital weapon in ensuring your new business survives to become a strong profitable entity. Therefore, don’t skip this important step in the rush to get your product to market.
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