The market forecast for beauty products is to go from $22.1 billion a year in 2017 to $28.7 billion by 2020. Why is that useful information for an entrepreneur looking to market a beauty-related business?
O It suggests that there will be a lot of room for new businesses.
O It guarantees that any beauty-related business will do really well.
O It indicates that beauty products for men will see exponential growth.
O It means that the government feels consumers should spend more on beauty products.
The correct answer is O: It suggests that there will be a lot of room for new businesses.
The market forecast provides useful information to an entrepreneur looking to market a beauty-related business because it indicates that the beauty products market is expanding and there is potential for new businesses to enter and thrive in the market. It suggests that there is a growing demand for beauty products, creating opportunities for entrepreneurs to offer innovative products and services to cater to this demand.