1. Explain the three stages involved in researching a business idea before making a decision on whether to set up a new enterprise.
2. Explain what is meant by the term ‘concept development’. 3. Why should entrepreneurs carry out market research? 4. Explain the difference between desk research and fi eld research.
5. (a) List three sources of information for desk research. (b) List three types of fi eld research.
6. Explain what is meant by a customer survey. 7. What is a focus group? 8. Why is test marketing useful when starting a new business?
Critical Thinking Skills
1. Describe how brainstorming can help an entrepreneur to generate business ideas.
2. Describe how conducting a personal skills audit can help an entrepreneur to identify business ideas.
