!9# Learn why market research is the difference between success and failure

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The market research is so important that it can determine whether your business is profitable or not. In this way, your market research first, you will be able to find out if your company the potential to become a star performer or a flop, there will be time and money later.

So why do you need market research? The answer to this question is very simple. You need to be as close as possible to the time and money you decide to invest in your businessReturn a profit. There is no point in starting a business that will not make a profit for you. There are many reasons why people want to start a business, how could people find solutions to problems, however, will not be able to do this for too long, if the company is not making a profit.

The market research will help you determine a foundation for your business if not your business idea has the potential to be profitable o. Profitable for a companyneed a market of buyers and the first phase is to build a company to find a market. Many people set up a business is upside down. They develop a product and a service without first determining whether it is necessary for them and scratching their heads in frustration, because no one wants to buy them.

Before developing a product or service, or if you have an idea for one, you must determine whether there is a demand. The best way to market, has aProblem than a solution. When starting a business, you have the disadvantage of not having a customer base where you can ask questions and get feedback. However, the study of your competitors reveal a lot of useful information. You can watch your competitors 'products' and services and to determine why they are successful. There may be many reasons for their success. Could it be that it effectively solves their problem, it may be that it is value for moneyor it could be their excellent customer service.

Understand where the market potential is, and ask them questions about what their needs are. This information is very useful because it helps to get your product and services around the needs of your potential customers to create.