If you’re looking to get an edge in the industry, one of the most valuable tools is market research. But you need to know the four basics first. Getting to know the industry and its players is a crucial first step in learning about customers, competitors and manufacturers. Supplement your findings with secondary research found in published articles, reports and studies. This information gives you a great head start in developing a product and choosing a location. Once you have completed the four basic steps, evaluate your findings, share with team leaders and push for increased profitability.
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