Which of the following is a benefit associated with conducting market research?

A) low costs
B) risk reduction
C) quick implementation
D) streamlined decision-making

Market Research

The process of gathering, analyzing, and interpreting information about a market, including information about potential customers and competitors.

Risk Reduction

Strategies or actions taken to decrease the likelihood of loss or the impact of potential risks on a project or investment.

Low Costs

A strategy or condition where a business seeks to achieve economies of scale or efficiencies to reduce production expenses.