ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Who are my competitors?
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Which production method is suitable?
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What price can I sell at?
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What consumers will buy my product?
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Detailed explanation-1: -A market research report does not include the following Personal opinions or biases of the researcher or analyst. Confidential or proprietary information that cannot be shared with the public. Raw data or data that is not relevant to the research objectives.
Detailed explanation-2: -Four common types of market research techniques include surveys, interviews, focus groups, and customer observation.
Detailed explanation-3: -Answer and Explanation: The answer is: d. The U.S. Census. The U.S. Census is the only source of data that does not originate directly from the customer.
Detailed explanation-4: -Market research is used to determine the viability of a new product or service. The results may be used to revise the product design and fine-tune the strategy for introducing it to the public. This can include information gathered for the purpose of determining market segmentation.