ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Why do businesses perform market research? Select all that you think apply
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To see what their competitors are doing
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Identify wants and needs of customers
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To respond to changing consumer needs
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To increase risk when launching new products
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Explanation:
Detailed explanation-1: -Market research gives you a great chance to know your most important stakeholder all the better – your customer. Having a great product is not enough in an age of information and digital capability as competitors will always find ways to steal your market share.
Detailed explanation-2: -Making solid business decisions. Securing funding from investors. Determining new business opportunities. Avoiding business failures. 05-Feb-2015
Detailed explanation-3: -Make Better Informed Business Decisions. Know Who You’re Talking To. Find Opportunities for Growth. Stay Up to Date on the Latest Trends. Know Where to Advertise. 02-Aug-2021
There is 1 question to complete.