ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The entrepreneur should profile the potential customers for the new business. This means that the entrepreneur should determine (to the degree possible) the typical customer’s:
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age & gender
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income level
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education level
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all of these are correct
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Explanation:
Detailed explanation-1: -When developing your market strategy, it’s important that you understand all the potential factors that contribute to your market. These factors will help you determine how you will need to market to consumers, face your competition, and develop your overall business plan.
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
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