Which of the following is a major reason for the failure of a new venture?

Question

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Inadequate market knowledge is a major reason for the failure of a new venture. A great product or service is not enough if the market is not interested or there is no demand. It is essential to conduct thorough market research and understand the target audience before launching a new venture. Good product performance and marketing strategies are important, but they cannot compensate for the lack of market knowledge. Opening in the wrong location can also be a contributing factor, but it is often related to inadequate market research.

Which of the Following Is a Major Reason for the Failure