Market Research

Question 1

Entrepreneur

Answer 1

the person who takes the initiative and risk to set up a business with the hope of making a profit. Example: Mark Zuckerburg

Question 2

Brainstorming

Answer 2

this
involves writing a list of new
ideas and rejecting the ones
that won’t work and
following the
ones that do.

Question 3

Intrapreneurship

Answer 3

this
involves employees inside a business coming up with a suggestion to improve the
busines

Question 4

Competitors

Answer 4

this involves copying a
product that already exists. Be careful of
copyright and.patents.

Question 5

Important substitution

Answer 5

a product that is
currently imported is now made in
Irel

Question 6

Market research

Answer 6

the gathering,
recording and analysis of
information about consumer opinion to
help the business make
informed decisions.