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What information can market research provide?

Answer and explanation

Correct answer: Information about customer preferences and competitors

Market research collects and analyses information about potential customers, their needs and preferences, demand, prices, competitors, and market conditions. This information helps an entrepreneur choose a product, set a suitable price, and plan promotion. Weather or holiday information may occasionally matter, but neither alone represents the main purpose of market research.

Related tags

Market ResearchCustomer PreferenceCompetitionIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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