4. How can market research benefit entrepreneurs as their businesses grow?

5. List some possible sources of market information for an entrepreneur.

7. Describe several trends that are driving markets today and their impact on small businesses.

8. Why is it important for small business owners to define their target markets as part of their marketing strategies?

9. What is a competitive advantage?

10. Why is it important for a small business owner to create a plan for establishing a competitive advantage?

11. Describe how a small business owner could use finding a niche and fill it for a competitive advantage.

12. Describe how a small business owner could use the power of publicity for a competitive advantage.

13. Describe how a small business owner could use entertaining instead of just selling for a competitive advantage.

14. Describe how a small business owner could use striving to be unique for a competitive advantage.

15. Describe how a small business owner could use building a community of customers for a competitive advantage.

16. Describe how a small business owner could use connecting with customers at an emotional level for a competitive advantage.

17. Describe how a small business owner could use creating an identity for the business through branding for a competitive advantage.

18. Describe how a small business owner could use social marketing for a competitive advantage.

8-19. Describe how a small business owner could use dedication for service and customer satisfaction for a competitive advantage.

20. Describe how a small business owner could use retaining existing customers for a competitive advantage.

21. Describe how a small business owner could use devotion to quality for a competitive advantage.

22. Describe how a small business owner could use paying attention to convenience for a competitive advantage.

23. Describe how a small business owner could use concentrating on innovation for a competitive advantage.

Answer rating: 100% (QA)

4 Benefits of Market Research for Entrepreneurs Market research helps entrepreneurs understand their target audiences preferences needs and behaviors It provides insights into market trends enabling e... View the full answer