(CASE ANALYSIS) Michael P. Babine was injured when he was thrown from an “El Toro” mechanical bull that he rode at a nightclub. The Club had placed mattresses around the bull to cushion the fall of ri

1) Babu and Hari should conduct market research before starting their business because it can provide valuable information about the demand for their product, the target market, competition, and potential profitability. By researching their market, they can find out if the location they have chosen is suitable for their business, what their potential customers' preferences are, and what their competitors are offering, among other things. This information can help them to make informed decisions about their business and increase their chances of success. 2) The research process typically involves the following steps: - Defining the research problem: clarifying the purpose of the research and identifying what information is needed. - Developing a research design: choosing the appropriate research method (e.g. survey, focus group, observation), determining the sample size and sampling method, and developing a questionnaire or interview guide. - Collecting data: gathering data from primary sources (e.g. surveys, interviews) or secondary sources (e.g. published data, reports). - Analyzing the data: organizing and summarizing the data, identifying patterns and trends, and drawing conclusions from the findings. - Reporting the findings: presenting the research findings in a clear and concise format, interpreting the results, and making recommendations based on the findings. 3) Babu and Hari could use various methods to learn more about their potential customers, competitors, and business locations, such as: - Conducting surveys or interviews with potential customers to gather information about their preferences, buying habits, and needs. - Analyzing secondary data sources, such as government statistics, industry reports, and competitor websites, to gain insights into the market and competition. - Visiting potential business locations and observing foot traffic, neighboring businesses, and other relevant factors. - Conducting focus groups to gain more in-depth insights into customers' opinions and behavior. - Using social media or online platforms to gather feedback and insights from potential customers.