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Market research can be used to help address which of the following business questions?
should a current product or service be altered or eliminated?
Should the organization expand to new markets?
What should be the creative focus of a new advertising campaign?
What product or service should be developed next?
All of these

Ask by Logan Davies. in the United States
Jan 24,2025

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All of these

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Mind Expander

Market research plays a pivotal role in informing strategic business decisions, and it’s particularly effective for evaluating whether to adjust or discontinue a product. By gathering insights from customers, businesses can determine if they meet customer needs or if there’s a demand for changes, ensuring they’re not pouring resources into something that no longer resonates.
Additionally, when considering expansion into new markets, market research offers invaluable data about potential customer demographics, competitor analysis, and regional preferences. This information helps businesses assess viability, reduce risks, and increase their chances of success when entering uncharted territories.

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