ENTREPRENEURIAL OPPORTUNITIES
IDENTIFYING AND EVALUATING BUSINESS OPPORTUNITIES
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
It creates new opportunities for growth.
|
|
|
To find new market segments.
|
|
|
To make potential customers aware of your business
|
|
|
It can be used as potential tax right-off.
|
Detailed explanation-1: -It makes the customers aware of your products or services, engages them, and helps them make the buying decision. Furthermore, a marketing plan, a part of your business plan, helps in creating and maintaining demand, relevance, reputation, competition, etc.
Detailed explanation-2: -Know your customers better because only they can help you get more lead and more business. Understanding customers is the key to giving them good service which in turn results into strong customer relationships and new sales through positive word-of-mouth recommendation.
Detailed explanation-3: -Marketing is one way to give information to consumers. This way, consumers will have a basic idea of what is your product all about. They will also know the benefits of buying your products. Marketing educates many people about a certain product.
Detailed explanation-4: -By understanding the marketing environment, a business can be proactive in responding to external changes and trends. For example, an awareness of changing consumer tastes can help a business adjust its product offering to stay competitive.