ENTREPRENEURSHIP

ENTREPRENEURIAL OPPORTUNITIES

MARKET RESEARCH

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A start-up business wants to find out about the number of competitors in the local area. Which of the following is the most suitable way for the business to quickly gather this information?

A	Internet
B	Questionnaire
C	Focus group
D	Survey

Explanation:

Detailed explanation-1: -Form Hypotheses. What questions do you aim to answer through market research? Select the Type of Research Needed to Test Hypotheses. Identify Target Demographics and Recruit Subjects. Conduct the Research. Gather Insights and Determine Action Items. 17-Mar-2022

Detailed explanation-2: -#1 Define your target audience. #2 Understand their behaviour. #3 Choose a method to get insights. #4 Collate the responses. #5 Form hypothesis & take actions. 18-May-2020

Detailed explanation-3: -The Bureau of Labor Statistics. The Census Bureau. State and local commerce websites. Trade journal articles. Competitors’ strengths and weaknesses. Target market surveys or questionnaires. Information from interviews or focus groups within your target market. 21-Oct-2022

There is 1 question to complete.