Research showing that your idea is something people will actually buy can support your business plan by communicating:%0D%0A%0D%0A(1 point)%0D%0AResponses%0D%0A%0D%0Ahow much it costs to produce the product.%0D%0A%0D%0Ahow much it costs to produce the product.%0D%0A%0D%0Awhat the profit margin on the product will be.%0D%0A%0D%0Awhat the profit margin on the product will be.%0D%0A%0D%0Ahow you’ll ensure your product will sell.%0D%0A%0D%0Ahow you’ll ensure your product will sell.%0D%0A%0D%0Ahow many competitors you can expect in the marketplace.
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Research showing that your idea is something people will actually buy can support your business plan by communicating how you’ll ensure your product will sell.
Understanding market demand, consumer preferences, and potential sales channels helps to substantiate your business plan and demonstrates to stakeholders that there is a viable market for your product.
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