Outline the steps to conducting market research for a new business
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ChatGPT Prompt: I am interested in starting a new business and would like to learn how to conduct market research effectively. Could you outline the steps to conducting market research for a new business, including defining the research question, selecting the research method, and collecting and analyzing data? It would also be helpful to understand how to interpret the research findings and use them to inform business decisions, such as product development, pricing, and marketing. Additionally, what are some common mistakes to avoid when conducting market research?