When entrepreneurs come up with new ideas, they go through a series of steps to make sure their idea is feasible and profitable with the first step involving the use of things like surveys, focus groups, interviews, and field trials to figure out what the market wants. What kind of techniques are used in this first step?

Question

When entrepreneurs come up with new ideas, they go through a series of steps to make sure their idea is feasible and profitable with the first step involving the use of things like surveys, focus groups, interviews, and field trials to figure out what the market wants. What kind of techniques are used in this first step?

(1 point)
Responses

market research techniques

market research techniques

reliability techniques

reliability techniques

cold calling techniques

cold calling techniques

intrinsic advertising techniques

Answer 1

The techniques used in the first step of determining market wants and feasibility are typically referred to as market research techniques.