To be a successful business owner, you must know your market. Your business won’t succeed just because you want it to succeed. Determining if there is a market for your products or service is the most critical item of planning. Once you decide your product or (1)______ service, you must analyze your market—a process involved (2)______ interviewing competitors, suppliers and new customers. Market research is extremely beneficial; information gathered can increase (3)______ your profit potential. Before you begin researching your market, however, you should take a brief, and close look at your product or (4)______ service from an objective standpoint. You should ask yourself the following question: Is this product or service in constant demand (5)______ Can I create a demand for my product or service to insure a profit (6)______ Once you are satisfied that these preliminary questions answered, (7)______ move on to conducting your research. Market research is simply an orderly, objective way of learning about people—people who buy from you. Fortunately, many (8)______ entrepreneurs fail to complete this critic section of their business plan. (9)______ Collecting research data can be frustrating unless you have defined your goals and organize the collection and analysis process. You must (10)______ plan to prevent this from happening, and decide how you will collect, sort and analyze the data. Maintain a file and notebook in which to store and organize information as needed.