ENTREPRENEURIAL OPPORTUNITIES
IDENTIFYING AND EVALUATING BUSINESS OPPORTUNITIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A business must provide a product or service at a price that will attract customers but still earn a reasonable
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amount of customers
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profit
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reputation
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amount of time
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Explanation:
Detailed explanation-1: -Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business’s marketing plan.
Detailed explanation-2: -There are two basic methods of pricing your products and services: cost-plus and value-based pricing. The best choice depends on your type of business, what influences your customers to buy and the nature of your competition.
Detailed explanation-3: -A loss leader strategy involves selling a product or service at a price that is not profitable but is sold to attract new customers or to sell additional products and services to those customers. Loss leading is a common practice when a business first enters a market.
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