Entrep: Module 3

Short Market Survey is conducted by finding out the demand for the product.

• True

• False

If an idea is found to be feasible, this knowledge will in turn give them the confidence to go ahead when problems are encountered, knowing that their product is in demand.

• True

• False

It is important to think in advance about the type of information that is needed and to ask people the same questions each time, so that their answers can be compared and summarized.

• True

• False

It is better to do a market survey because they will then properly understand their customers' needs and how their business should operate.

• True

• False

Monitor potential ideas and needs from customers and formally arrange for consumers to express their opinions.

• Consumer

• Existing Products and Services

• Distribution Channels

• Government (Patent Office)

• Research and Development

Analysis of products and services uncovers ways to improve offerings that may result in a new product or service.

• Consumer

• Existing Products and Services

• Distribution Channels

• Government (Patent Office)

• Research and Development

Channel members can help suggest and market new products

• Consumer

• Existing Products and Services

• Distribution Channels

• Government (Patent Office)

• Research and Development

It can suggest new product possibilities. 

• Consumer

• Existing Products and Services

• Distribution Channels

• Government (Patent Office)

• Research and Development

New product ideas can come in response to government regulations.

• Consumer

• Existing Products and Services

• Distribution Channels

• Government (Patent Office)

• Research and Development

Conduct research on your market and your customer needs. 

• Consumer

• Existing Products and Services

• Distribution Channels

• Government (Patent Office)

• Research and Development