Part $2$: Market ResearchNow that you have your basic plan, you will neat to do same research in order to create successful bus me marker you plan to enter and he polars in your company $6-10$ cront. succ lo look at the market you plan to entewhad ine buninesses that already operate other words you dingt need to rainvent the Whael you can copy what ornery operate businesses are doingRequirements:$1)$ Write a report in three sections outlined below$2)$ Must be in APA format including a title page$3)$ Must include minimum one source, using in text citation$4)$ Must be in paragraph form with full sentences$5)$ Must not include questions or report instructions$6)$ Must include a table, graph or other figure that you created in each section ofthe report.Section $1$: Market ResearchAre there a lot of established competitors?How many do you think there are?Rive some examples of businesses you would be competing withWhat market structure does it exist in$.$ Explain why this structureMonopoly, Oligopoly, $/$Monopolistic Competition dr Pure Competition What are the barriers to entry?Is it relatively difficult or easy to enter this market, why or why notWhat prices do your competitors sell at$?$Give examples of the prices a competitor sells atAre you going to compete with price or do you plan to use non$-$price methodsSection $2$: Business Planning:Who is your target customer?Why are they your targetHow will you target them with advertisementsWhy will your target customer choose your product$/$service over other companiesWhat are competitors doing wrong $-$ You can do betterWhat are your competitors doing right $-$ You should be doing tooHow will you distribute the product or service?How does your competition do things?How will you get the resources you need to produceHow will you assemble your product or serviceHow will you train your employeesHow will you get your good or service to the customer I want you to answer these question but do not use chat gpt i used it before and get caught i want you to answer these question thinking like an adult who is $19$ years old in grade $12$ and want to open a hookah lounge in toronto $.$