Final answer:
Market research is crucial for understanding the target market and adapting to changes, preliminary investigation aids in formulating research questions.
Explanation:
Market research is an essential component for businesses to understand their target market. It provides valuable insights into customer preferences, behaviors, and trends, helping companies make informed decisions.
Further research is crucial for businesses to adapt to the ever-changing market environment. Without ongoing market research, companies risk missing out on opportunities or failing to address shifting consumer demands.
Preliminary investigation of existing information can offer a foundation for research, aiding in formulating research questions and identifying key terms for effective searches.
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