BUISENESS MANAGEMENT
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To ensure success, entrepreneurs need to understand the market and the ____
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Industry
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Competitors
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Customers
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None of the above
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Explanation:
Detailed explanation-1: -Having a greater understanding of your marketplace from the very start will enable you to create a sound business strategy to establish and grow your brand into one that’s better than the competition.
Detailed explanation-2: -A deep understanding of the market is a crucial requirement for venturing into an enterprise. A feasibility plan, which includes an analysis of the market is required to be prepared by the entrepreneur. It is important to study the various inputs that have designed the market and contributors to the market.
There is 1 question to complete.