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Market research can help entrepreneurs gain insight into viewpoints and opinions about a new product.
O True
O False

Sagot :

Lanuel

Answer:

True

Explanation:

Market research can be defined as a strategic technique or tool that is typically used by entrepreneurs or business owners to gather information about a particular product. This is to enable them get an insight into buying patterns, requirements or choice and location of the target market (consumers).

When a market research is done properly, it is essentially an effective tool to help plan a business to grow and develop significantly with time.

Hence, market research can help entrepreneurs gain insight into viewpoints and opinions about a new product because it interconnects the manufacturer, consumer and the finished goods or services.

Additionally, market research can be used to gather specific information about rival companies in the same market (industry) and monitor market trends with respect to price.

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