Identifying Opportunities: It helps in uncovering unmet needs and emerging trends, allowing entrepreneurs to innovate and capture new markets. Risk Mitigation: By providing data-driven insights, market research helps in anticipating challenges and preparing effective counter-strategies. Customer Understanding: It enables a deep understanding of customer behavior, preferences, and feedback, facilitating better product development and customer satisfaction. Informed Decision-Making: Research-based insights support strategic decisions regarding marketing, pricing, and distribution.