The most crucial aspect of a business plan is to scientifically undertake ‘Market Research and Analysis’. Businesses fail because of a lack of understanding about market analysis.Explainthesignificanceofmarketingmixvariablesinmarketanalysisbygivinganexample ofasuccessfulandafailedventurebecauseofalackofmarketanalysisand,inturn,lackof an effective marketing mix plan.
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