ENTREPRENEURSHIP

Detailed explanation-1: -Market research is an important source of Idea generation due to familiarity with the needs of the market. Market research means the process by which a business firm can analyze whether the product or service would be readily accepted by the market and consumed by the potential consumer or not.

Detailed explanation-2: -Sources of idea generation are the people and places from where you get your ideas. Several internal and external sources help to generate ideas. Employees and the research & development department of the company are great internal sources. Whereas, external sources are also very helpful.

Detailed explanation-3: -Expert-Verified Answer The Distribution channels give suggestions for new product and als help to market new products. The distribution channels are chosen for providing ideas for new products because they are more familiar and have more understanding on the market needs.

Detailed explanation-4: -– Member of the distribution channels are also excellent sources for new ideas because of their familiarity with the needs of the market.