Question: Every small business owner-manager must ask many questions to develop effective marketing strategies. These questions include: Who are my current and potential customers? Who are

Every small business owner-manager must ask many questions to develop effective marketing strategies. These questions include:

Who are my current and potential customers? Who are my competitors? How does my product stack up against that of my competitors? Do I have enough cash flow and working capital? There are many more questions to be asked which can be answered by the proper market research.

Detail the key steps to conducting market research
Identify and evaluate five benefits to conducting market research
Identify and evaluate five disadvantages to conducting market research

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