Paying market researchers can be a costly aspects of starting a business. In most cases, you can find the information through your own efforts.
Most of the important information about your business will come from your customers.
It’s a good idea to research your industry standard prices before setting your prices.
The cost contingency model is determined by adding a predetermined percentage to your cost.
A company website may be a secondary source of information but not a primary one.
Market research involves gathering and analyzing data on consumers and competitors. Market research studies market status to find potential sales of a product or service. It helps companies understand what products people want, who will buy them, and at what price.
Therefore, the correct answers are as given above.
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