Entrepreneurship Review Part 2

What is a Market Study?

• A study that scrutinized the market demand.

• A study that focuses on the product or services.

• A study that analyzes the needed facilities in the business.

• A study that analyzes consumers, products or services, and business activities.

This is the type of market research methodology that is most used in qualitative research tools for generating initial insights into customer and non-customer experiences regarding products, places, and the like.

• Focus Group Discussion

• Observational Techniques

• Sales Data Mining

• Survey Research

It is the most preferred instrument in market research methodology for in-depth quantitative research. The respondents are asked a variety of questions, which are often about their personal information, their motivations, and their behavior.

• Focus Group Discussion

• Observational Techniques

• Sales Data Mining

• Survey Research

This is a type of market research methodology in which data is gathered with no interaction from the target consumer.

• Focus Group Discussion

• Observational Techniques

• Sales Data Mining

• Survey Research

Innovator and Risk-taker

• Seller

• Sole Proprietorship

• Entrepreneur

• Entrepreneurship

Owned by stockholders

• Sole Proprietorship

• Partnership

• Corporation

• Merchandising

This type of business provides services to customers for a fee.

• Selling

• Manufacturing

• Merchandising

• Service Business

A type of business that buys goods or commodities and sells them to earn a profit.

• Selling

• Manufacturing

• Merchandising

• Service Business

It consists of a series of rectangles or bars. Each bar is proportional in width to the range of values within a class and proportional in height to the number of items falling within a class.

• histogram

• frequency polygon

• pie chart

• graph

It is constructed by marking the frequencies on the vertical axis with a dot corresponding to the values on the horizontal axis. These dots are then connected with a straight line to form a polygon.

• histogram

• frequency polygon

• pie chart

• graph