How can an entrepreneur learn about and understand the industry related to their idea for a new business?
Market Research for Entrepreneurs

Flashcard
•
Other, Specialty
•
10th - 12th Grade
•
Hard
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20 questions
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1.
FLASHCARD QUESTION
Front
Back
Take a class or course related to the industry, Read books and journals about the industry, Interview people who currently work in the industry.
2.
FLASHCARD QUESTION
Front
The entrepreneur should profile the potential customers for the new business. This means that the entrepreneur should determine (to the degree possible) the typical customer’s: age & gender, income level, education level, all of these are correct
Back
all of these are correct
3.
FLASHCARD QUESTION
Front
The trading area should be carefully analyzed and evaluated.
Back
True
4.
FLASHCARD QUESTION
Front
Which of the following is a cultural trend that might influence an entrepreneur? Athletic wear is worn to many places. The unemployment rate is increasing.
Back
Athletic wear is worn to many places.
5.
FLASHCARD QUESTION
Front
Which of the following is an economic trend that might influence an entrepreneur? Options: Athletic wear is worn to many places. Unemployment is decreasing.
Back
Unemployment is decreasing.
6.
FLASHCARD QUESTION
Front
The first step of the Marketing Research Process is
Back
Defining the problem.
7.
FLASHCARD QUESTION
Front
This is information that is useful and has already been collected for another purpose.
Back
Secondary Data
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