ENTREPRENEURSHIP

ENTREPRENEURIAL OPPORTUNITIES

MARKET RESEARCH

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which of the following is a reason why businesses conduct market research? To identify and understand:
A
Employee needs
B
Shareholder needs
C
Customer needs
D
Manager needs
Explanation: 

Detailed explanation-1: -The process of market research is designed to reduce risks, devise apt marketing strategies and growth models that are cost-effective for your business. It helps you identify the right channels of marketing-Once you set up your business, you need a solid marketing plan to build awareness and acquire customers.

Detailed explanation-2: -They can use market research to make sure there is demand for their product or service before they launch it. To provide information on whether people like the product. This means changes can be made to the product to meet the needs of the customer.

Detailed explanation-3: -Making solid business decisions. Securing funding from investors. Determining new business opportunities. Avoiding business failures. 05-Feb-2015

There is 1 question to complete.