ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Market research is a way to gather, analyse and interpret information about your potential customers
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True
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False
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Market research is the process of evaluating the viability of a new service or product through research conducted directly with potential customers. Market research allows a company to define its target market and get opinions and other feedback from consumers about their interest in a product or service.
Detailed explanation-2: -Market research can identify how customers and potential customers might view your business and identify gaps in customer expectations. This is powerful information to have when completing your marketing strategy. Having good market intelligence helps to minimise risks when making key business decisions.
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