What If You Don't Go For Market Research Before Starting A Business?
If you don't go for market research, you may fail to understand the market and the competitors. You will not know your niche market where the consumers are expecting the right product or service for them. You will be caught unawares when your offers may not be appreciated by the target audience, as a result, you will have to undergo some costly modifications. It will take a lot of time and will eat into the capital too. All these and more you can avoid by using information from the industry research companies , that you hire and it comes up with the required research report. If you do not do market research before starting your business, you will fail to measure your brand reputation in the market with its target audience during a period. It is a superior way of knowing what is to be done and what has gone amiss. You do your business planning and market research is a tool that helps your business planning. Qualitative market research is a way of knowing what your customers are thin