ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is a market orientated business
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Produce a product then try to convince people to buy it.
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Perform market research to discover consumer needs and wants then develop a product that meets their needs and wants.
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A business that markets their products to a mass market
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A business that markets their products to a niche market
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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: -Four common types of market research techniques include surveys, interviews, focus groups, and customer observation.
Detailed explanation-3: -The best research options for new product idea generation and concept testing include: Focus groups. In-depth interviews. Online surveys.
There is 1 question to complete.