Market Research and Business Plan
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Starting a new business is very expensive. Over 42% businesses fail because they have launched a product that competitors are already offering or the market simply does not need. If you have studied the market and your competition thoroughly and equipped yourself with information, your business has a far, far higher chance to succeed.
Need for Market Research
- When entering a new market or if you plan to expand your existing business, a market research should be conducted at the very start.
- A market research study helps the business understand the market for your product or service.
- It would involve studying competition, their products, pricing and promotional strategies.
- One can identify the problems and opportunities in the market and learn about the gap in the current market which your product could take advantage of.
It is important to be well prepared with market intelligence. Over 42% businesses fail because they have launched a product that the market simply does not need.
Advantage for first time entrepreneurs and SMEs
- A comprehensive Market Research can reveal trends and even suggest new opportunities for the entrepreneur.
- For both first time entrepreneurs and existing SMEs, this Report will assist them to make strategic decisions and reduce risks.
Why Centurion Consulting
We are a team of Marketing, Branding and Research professionals supported by CAs to give financial insights on market trends. We handle the entire spectrum of Business from concept evaluation, recommending business solutions, implementation and achieving milestones.