Companies that sell to other companies are called

Market research

The process of guiding your business idea from inception through development and introduction to the market is called

Which of the following is not a source for obtaining secondary data?

Social, economic, and political factors that could impact your business are called

All primary research

Which of the following is least important when collecting and evaluating data?

The period of time you have to act on a business opportunity before it disappears is called the

The type of business that provides the greatest amount of entrepreneurial freedom is a(n)

Which of the following is not used to evaluate the feasibility of a business opportunity?

Which of the following is not a characteristic of creative thinking?

A royalty fee is a(n)

Business arrangement in which an established company sells the right for others to use the company's name and operating plan to sell products or services.

Convention where related businesses come to promote

their products or services.

Many entrepreneurs have to _______ their idea, or change or revise, until they get a better opportunity.

Problems and trends are _______ sources of opportunity.

Hobbies, talents, and interests are internal sources of opportunity.

Business evaluation method that draws its name from the four areas it evaluates: Strengths, Weaknesses, Opportunities, and Threats.

Shorter alternative to a traditional business plan that allows

you to create a business plan faster and make adjustments over time

Process of adding up all the expected benefits of an opportunity and subtracting all the expected costs.

There are 4 primary components of a lean business canvas.

They are 1.) Value Proposition, 2.) Business Model, 3.) Cost Structure, and

Organized way to gather and analyze information needed to make business decisions.

New information that is collected for a particular purpose. It is obtained directly from potential customers.

Research method used to collect opinions and feedback from a group of people about a specific product, concept, or service

Group of potential customers who are willing and able to purchase a particular product or service.

Which is a technique for collecting secondary data?

Research technique that asks customers to interact with the product while experts observe their experience.

Process of ongoing market research and data analysis to prove a business idea is truly a business opportunity.

Prototype or first attempt at bringing a product or service to market quickly and cheaply that the entrepreneur tries to sell to get feedback from potential customers.