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How crucial the process of market research is for an aspiring, emerging, or developing business is not hidden from anyone anymore. It is extremely important to gain knowledge and have related numerical data about one’s own business and niche market space before venturing into the market. However, it is not at all a one-time job that can be accomplished by doing and finishing it once and for all.
Market Research for any business or market space requires regular updates and this is where the in-house research becomes a little ineffective. Since it is not feasible for a business to conduct market researches on their own every time and it is also not economical to have staff members exclusively for market research even when it is not needed immediately.
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