ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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small/large companies
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nonprofit/trade organizations
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state/federal government agencies
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all of the above
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Detailed explanation-1: -Businesses utilize market research to determine the viability of a new product or service by speaking directly with a potential customer.
Detailed explanation-2: -Market research is a methodology used to gain reliable data about specific markets and target customers. Market research organisations and industry associations provide data and statistical reports on markets and future trends.
Detailed explanation-3: -Traditionally, market research encompassed four major disciplines: primary, secondary, quantitative and qualitative. However, as technology and marketing have become sophisticated, we’ve divided many of these types of research and insights into individual processes that allow for more granular data collection.
Detailed explanation-4: -Making solid business decisions. Securing funding from investors. Determining new business opportunities. Avoiding business failures. 05-Feb-2015