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Why does an entrepreneur study the market?

Answer and explanation

Correct answer: To understand customers and demand

The governing concept is market study before making business decisions. Research helps an entrepreneur understand customer needs, the level of demand, existing competitors, and suitable prices or features. This evidence reduces guesswork and supports a better product or service plan. Copying competitors alone is not the purpose, and stopping work or hiding a product cannot provide useful market knowledge, so option B is correct.

Related tags

Market ResearchCustomer DemandCompetitionBusiness PlanningIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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