19. To determine the market potential of a small business you first have to ____

Question

19. To determine the market potential of a small business you first have to _______.

1) determine the mission and objectives of her enterprise

2) establish the needs and characteristics of her consumers

3) do market research

4) determine her market share

19. To determine the market potential of Diana’s Design to Dine Caterers, Diana first had to _______.

1) determine the mission and objectives of her enterprise

2) establish the needs and characteristics of her consumers

3) do market research

4) determine her market share

Explanation / Answer

19. 3) Do market research is the first step to determine the market potential of a small business. As that will give an idea about the market, the targeted customers, competition, prices etc.

20. 3) Do market research is the first step which Diana’s Design should do to Dine Caterers. As to find out who are the caterers in the market and how they can help Diana in her business.

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