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A guide from the U.S. Small Business Administration outlines the importance of market research and competitive analysis in shaping a successful business strategy. By gathering data on customer needs, industry trends and competitors, entrepreneurs can make informed decisions, identify market gaps and refine their offerings. The article emphasizes using both primary research, such as surveys and focus groups, and secondary research from existing reports and industry data to help businesses position themselves effectively.
by Katie Kervin
Managing Editor, Commerce + Communities Today
ICSC champions small and emerging businesses in getting from business plan to brick-and-mortar.
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