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Why Is It Important for Entrepreneurs to Gather Marketing Information

question 24

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Why is it important for entrepreneurs to gather marketing information before starting a new venture and what are some ways of gathering information?


Definitions:

Law of Averages

The principle stating that over a large number of trials, outcomes will roughly equal the probability of an event occurring.

Web Site

A collection of related web pages under a single domain name, designed to provide information, services, or products over the internet.

Potential Customers

Individuals or entities that are likely to be interested in a company's product or service but have not yet made a purchase.

Parallel Referral Sale

A selling technique where a salesperson gains new prospects through recommendations from existing customers in a similar field or industry.

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