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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An improvement that makes a product satisfy its purpose better is an improvement to the product’s ____ utility
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Place
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Information
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Explanation:
Detailed explanation-1: -Product development–also called new product management–is a series of steps that includes the conceptualization, design, development and marketing of newly created or newly rebranded goods or services.
Detailed explanation-2: -Place utility involves making products or services available in locations that allow consumers to easily access them.
Detailed explanation-3: -Companies can achieve economies of scale by increasing production and lowering costs. This happens because costs are spread over a larger number of goods. Costs can be both fixed and variable.
There is 1 question to complete.