Survey the Market: Do Consumers Want Your Product?
Source: Bessie Moore Center for Economic Education | Type: lesson/chapter
Chapter 5 of Entrepreneurship: Arkansas Style. Part 1 of this lesson focuses on the need to define, evaluate, and gain information about your target market. Entrepreneurs may have some great ideas for goods or services but if there is not a demand for their product then they can’t stay in business. In this lesson the young entrepreneurs question themselves and their possible customers. They use the idea of goods or services for the pet industry as they learn the market survey process. Part 2 will help students understand how to create a demand for their product using basic marketing and advertising techniques.
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