In most cases, the business owners are <u>unwilling to take the time</u>. Market research is incredible important when running a business, and by not doing it, you are going into a market that you have no idea about. This can hurt the business in the short-term because they won't know which demographics to serve, how the location they're in contributes to their sales, what products or services are popular, and if there is a lot of competition in their market. All these can have negative impacts on the business and it's why market research is so important!
It can also be because <u>they don't know how to do it</u>. Most business owners don't really know how to research demographics and competition, so they tend not to do it, or hire others who how to do it.
I believe this answer is true.
Answer:20,5369%
Explanation:We know APR is the Annual Percentage Rate that is paid over a loan. If we are to pay during 78 months at most $510 each month, then we could pay in total 510*78=$39780 in the course of the six years and a half that constitute the 78 months. This means that yearly we can pay in interest $39780/6,5=$6120 each year, this represents the interest over the loaned money, i.e., the $29800. Then the APR is
annualy or 1,71141% monthly and it is the highest APR you could afford, 20.5369%
You can price your products, by average, fairness is key!
