10 Questions
Market research blends consumer behavior and economic trends to confirm and improve your business ______.
idea
It’s crucial to understand your consumer base from the ______.
outset
Gather demographic information to better understand opportunities and ______ for gaining customers.
limitations
You’ll also want to keep up with the latest small business ______.
trends
You can do market research using existing sources, or you can do the research yourself and go ______ to consumers.
direct
Which of the following is NOT a reason why market research is important for your business?
To increase profits
What type of information can be gathered through demographic analysis for market research?
Information about population data
Why is it important to keep up with the latest small business trends?
To gain a sense of market share
What are the two main approaches to conducting market research?
Using existing sources and conducting primary research
What does market research blend to confirm and improve your business idea?
Consumer behavior and economic trends
Test your knowledge on market research and competitive analysis with this quiz from the U.S. Small Business Administration. Learn how to understand your consumer base and reduce risks for your business.
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