Follow This Plan...Market Research is a Necessity

To run a successful business, you need to learn all about your existing and potential customers, your competitors and the economic conditions of your marketplace. Market research is the process of gathering and analyzing consumer and economic data to help you understand which products and services your customers want, and how to differentiate your business from your competitors.
Market research can also provide valuable insight to help you to:

• Reduce business risks
• Spot current and upcoming problems in the current market
• Identify sales opportunities
• Develop plans of action

How to Conduct Market Research:
It's often difficult to know where to begin when making decisions about a business. A little planning can go a long way, so your first step should be to learn more about how to conduct market research. This article from AllBusiness.com provides basic information on how to conduct market research as well as related articles that can be helpful for you you to make informed decisions about starting, growing and managing your business.

• Market Research Basics
• For more information visit sba.gov

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