Which technique is often used to refine business ideas?Group of answer choicesSWOT analysisFinancial forecastingLegal reviewMarket research

To refine business ideas effectively, the technique that is often used is Market Research.

Explanation:

1. Market Research involves gathering, analyzing, and interpreting information about a market, including information about the target audience, competition, and industry trends. This process helps entrepreneurs understand potential customers' needs and preferences, identify gaps in the market, and evaluate the feasibility of their business ideas.

2. SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats) is also a valuable tool, but it is often used to evaluate an existing business or strategy rather than to refine new ideas.

3. Financial Forecasting focuses on predicting future financial outcomes based on historical data but does not directly refine business ideas.

4. Legal Review is essential for compliance but does not contribute to the refinement of business ideas in terms of market viability or customer interest.

In conclusion, while all these techniques have their importance in the business process, Market Research stands out as the primary method for refining business ideas by providing relevant insights into the market environment.