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What is the biggest risk of launching a product without market research?

Answer and explanation

Correct answer: The product may not match the real customer need

Market research provides information about customer needs, preferences, competitors, prices, and buying behaviour. Without it, an entrepreneur may develop a product that solves no important problem, reaches the wrong audience, or is priced poorly. Success, zero cost, or automatic customer growth cannot be assumed without evidence. Therefore, mismatch with real customer need is the main risk.

Related tags

Market-ResearchCustomer-NeedsEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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