True or False: Market research should always be conducted regardless of the level of risk. True False

Absolutely true! Market research acts as your compass in the chaotic world of business, guiding you through uncharted waters even when the risks seem low. Not only does it help in validating ideas but it also uncovers hidden opportunities and customer preferences that you might overlook without it. So, why gamble on intuition alone when you can harness the power of data? Now, let’s talk about the magic of informed decision-making! Whenever you launch a new product or service, having a solid understanding of the market landscape is essential. This means analyzing trends, customer needs, and competition, ensuring you’re staking your claim on a well-considered foundation rather than just shooting it in the dark.