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Why might a firm find it beneficial to carry out market research?
in Economics and Finance by Diamond (55,382 points)
recategorized by | 36 views

1 Answer

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Carrying a market research is an important investment any firm should do to avoid blind spots and knock-offs from the market penetration.

Market research helps businesses strengthen their position and minimize any investment risk. It also identifies potential threats and opportunities, thereby making the firm get prepared and adjust accordingly. It assists in making the firm discover its competitor's strengths and weaknesses and then leverage on them.

Market research will also facilitate strategic planning of the firm to secure a safe landing spot in the market.
by Diamond (41,710 points)

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