ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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How can an entrepreneur gather and analyze information needed to make business decisions in an organized way?
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Use differentiators.
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Have a competitive advantage.
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Use a business environment.
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Do market research.
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Explanation:
Detailed explanation-1: -Market research can identify market trends, demographics, economic shifts, customer’s buying habits, and important information on competition. You will utilize this information to define your target markets and establish a competitive advantage in the marketplace.
Detailed explanation-2: -Interviews: Asking customers conversational, open-ended questions in a one-on-one virtual or in-person setting to gather opinions and preferences. Observations: Watching how customers interact with specific products for mannerisms and ease-of-use.
There is 1 question to complete.