As discussed in the text, the first step in attempting to determine the market potential for a new venture is to __________.
A) identify all competitive offerings within the local market
B) define the market
C) gather national industry trends for the specific venture
D) decide on the scope of the business
E) None of the answers apply.

Question

Quizplus · Accepted Answer

Defining the market is the first step in determining the market potential for a new venture.

As Discussed in the Text, the First Step in Attempting