(Optional) Conduct market research.

Conducting market research should include

• listing available markets
• determining market prices and profit potential
• determining reliability and future growth potential

• determining market demographics.

Process/Skill Questions:

• What is market research, and how is it used?
• What are the steps in market research?
• What types of data are used for market research?
• What is the difference between primary and secondary data, and why are both needed in market research?