Market research is essential before you launch a business. Just imagine being a football manager and not knowing anything about your team (your customers), who you are about to play against and how many players they are allowed to have (your competitors) or even the size of the pitch and duration of the game you are about to play (the nature of the market and industry). And then there is the little matter of the rules of the game (the laws affecting the industry). In such circumstances your chances of success would be slim. The President of Harvard Business School once said that if you thought knowledge was expensive, you should try ignorance.
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