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Who needs the product or service you are offering? How many need it? Which features are more important than the other? What price is customers be willing to pay, and why?
You are task of reaching out to potential customers and/or current customers and find out what they have in mind. You need to gather data. This process is called market research.
From a business standpoint, market research is a way to cut down mistakes and cost before investing time and money developing a new product or service.
The goal of market research is to reduce cost and increase profit. There are many online services that can help you identify the stages development and when primary market research is most cost-effective, and most necessary.
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