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Why Startups Fail?
According to the Central Bank insights on 101 failed startups, 42% of startups that fail, fail due to their lack of awareness of real market needs
The good news is Market Research can help you determine if you have a product fit before you end up with empty pockets!
When do Startups need Market Research?
Determine the feasibility of a new business
Identify and develop potential new markets
Keep close tabs on marketing
Test the demand for new products or features
Ensure optimal product placement
Improve and innovate their business
Boost the success of their promotional campaigns
Accordingly, Market Research would enable Startups to:
Make well-informed decisions
Gain accurate information
Determine the Market Size
Choose an appropriate sales system
Learn about customer preferences
Gather details about customer perception about the brand
Analyze customer communication methods
Productive business investment