Market research and feasibility studies are both crucial components of the process of assessing the viability and potential success of a business venture, product launch, or investment opportunity. While they are related, they serve slightly different purposes: Market Research: Market research involves gathering, analyzing, and interpreting information about a market, including its size, trends, competitors, customer preferences, demographics, and other relevant factors. The primary goal of market research is to understand the market landscape and dynamics, identify potential opportunities and threats, and gain insights into consumer behavior and preferences. Market research methods can include surveys, interviews, focus groups, observation, data analysis, and other techniques aimed at collecting relevant market data. Feasibility Study: A feasibility study is a comprehensive analysis conducted to determine whether a business idea, project, or investment is feasible and worth pursuing. ...
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