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What is the simple purpose of a market survey?

Answer and explanation

Correct answer: Collecting information about customers and the market

A market survey systematically gathers information from or about potential customers and the market. It may explore preferences, demand, prices, competition, and buying behaviour, helping an entrepreneur make better decisions. Therefore option A is correct. Hiding a business, stopping customers, or deciding without information defeats the purpose of a survey.

Related tags

Market-SurveyCustomerDecision-MakingEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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