Entrepreneurship 1 Why is it important for entrepreneurs to define and identify who their customers

Entrepreneurship

1 Why is it important for entrepreneurs to define and
identify who their customers are? What strategies do entrepreneurs use to
determine customer needs and wants? Be specific, using resources, concepts,
information and cites from the course text

2 What are benefits of entrepreneurs conducting market
research? Provide examples of market research strategies used in your current
business/organization or one with which you are familiar If you are not sure
what they might use, make some educated guesses given the reading and
discussions on market research and apply it

3 Choose a product with which you are familiar and describe
strategies an entrepreneur would use when setting the product’s price for
retail What objectives must entrepreneurs try to achieve when setting product
prices? What types of things must they consider? Back up your response with
information from the text reading, handouts, articles, etc

4 A brief summary of questions 1-3