1. Among the statements below, what is not considered a basic factor in making market research?
a. competition
b. size of the market
c. loyalty of product users
d. geographical and cultural elements
2. In making a decision to make a business venture one should give outmost consideration on ________.
a. profit
b. market needs
c. products/ service
d. business growth
3. what is needed to be done so as not to waste time, effort and money before launching a product?
a. focus on wallet share, not market share b. accept the market as harsh, not pair judge
c. put your ideas to the test
d. pick proven categories then find your niche
4. Market research assists entrepreneurs in ____ development and business ______
a. growth, need
b. business, decisions
c. product, growth
d. needs, products
5. In every business, ______ is inevitable and they are called in the industry
a. entrepreneur
b. competitor
c. profiteering
d. competition​