Market Research

Entrepreneurs must learn about their customers, the competitors, and the industry. Market research can help entrepreneurs collect and analyze data and understand which products and services are in demand, and how to become competitive on the market.  Discuss some of the areas that you need to learn about before starting your business. What are some of the basics of market research and how does market research help in uncovering this information? What are additional sources or activities you could use to uncover information?  Submission Format: Post your answer to the discussion question by Thursday preceding the end of the unit. Your post should be around 200 – 400 words and include at least one outside source. Your initial post should be substantial and answer the questions in detail. You must post at least TWO replies to others’ posts if required in the question instructions.  Your replies must be a minimum of 4 sentences long and, again, must be meaningful and detailed. All discussion posts should contain proper punctuation, grammar, capitalization, and spelling.