quiz sharon realizes that she needs additional research before she approaches potential investors. what kind…

quiz sharon realizes that she needs additional research before she approaches potential investors. what kind of research should she do to effectively evaluate her potential business opportunity? conduct market research to determine whether her business idea is a business opportunity that meets a consumer need or want. discuss the situation with her cousin who has shopped at the local bakery a few times. discuss the situation with a family friend who has money and might want to invest in her idea. analyze a national chain that sells pies and model her new business after it. this will save time and money that would otherwise be spent on independent research and planning.

quiz sharon realizes that she needs additional research before she approaches potential investors. what kind of research should she do to effectively evaluate her potential business opportunity? conduct market research to determine whether her business idea is a business opportunity that meets a consumer need or want. discuss the situation with her cousin who has shopped at the local bakery a few times. discuss the situation with a family friend who has money and might want to invest in her idea. analyze a national chain that sells pies and model her new business after it. this will save time and money that would otherwise be spent on independent research and planning.

Answer

Brief Explanations:

Market research helps in understanding consumer needs and viability of a business idea. Discussing with a cousin gives limited personal - experience based input. Talking to a potential investor prematurely may not provide objective evaluation. Copying a national chain may not fit local needs. Market research is the most comprehensive and objective way to evaluate the business opportunity.

Answer:

Conduct market research to determine whether her business idea is a business opportunity that meets a consumer need or want.