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Why is depending only on friends’ opinions a weak method of market research for an entrepreneur?

Answer and explanation

Correct answer: Because it does not fully represent real customers

Friends may differ from the intended market in age, income, preferences, buying behaviour, and willingness to pay. Their opinions can provide an initial clue, but a small and possibly biased group cannot represent all prospective customers. Better research uses relevant, diverse respondents and, where possible, observes actual behaviour as well as stated opinions.

Related tags

Market-ResearchBiasEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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