Practicing Success

Target Exam

CUET

Subject

Entrepreneurship

Chapter

Entrepreneurial Opportunity

Question:
_________ is the stage where market research is conducted when a new product or service needs to be launched.
Options:
Incubation
Creativity
Preparation
Idea germination
Correct Answer:
Preparation
Explanation:
Preparation: On the basis of the idea, interest and curiosity the need is adjudged by the entrepreneur and he starts looking for the answer to implement the idea. If the idea is to launch a new product or service then market research is conducted. That happens because the seed of curiosity has taken form of an idea, the entrepreneurs foresee the future of the product.