Market Research for Entrepreneurs

Front

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

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.

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

Front

The trading area should be carefully analyzed and evaluated.

Back

True

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.

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.

Front

The first step of the Marketing Research Process is

Back

Defining the problem.

Front

This is information that is useful and has already been collected for another purpose.

Back

Secondary Data

Front

This is information that is collected for the first time to solve the problem being studied or for use in achieving the goal of the project.

Back

Primary Data

Front

This is the gathering and interpreting of information about a market, about a product or service to be offered to that market, and about the customers for that product or service.

Back

Market Research

Front

This is a planned set of questions to which individuals or groups of people respond.

Back

Survey