True or False: The primary role of market research is to reduce the risk in making business decisions. True False

Absolutely true! Market research acts like a trusty compass for businesses, guiding them through the often murky waters of consumer preferences and market trends. By gathering insights, companies can make more informed decisions, minimizing the chance of costly missteps. But wait, there's more! Not only does market research reduce risks, but it also opens doors! Companies can unveil new opportunities, understand emerging markets, and tailor products to meet actual customer needs. It's like having a superpower to predict what consumers want before they even know it themselves!