ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Technology markets
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Fizzy drink
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Either A or B
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None of the above
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Detailed explanation-1: -A dynamic market is one that is in a rapidly changing business environment. In order to understand what makes a business dynamic, it is necessary to understand the market in which the business or business enterprise operates. A new business has to understand how dynamic the market is that it is entering.
Detailed explanation-2: -All markets change over time. However, the pace and nature of change vary considerably by market. Some markets are subject to continual and rapid change, whereas other markets are relatively static. A market which is subject to continual and rapid change is known as a DYNAMIC MARKET.
Detailed explanation-3: -Market dynamics refer to the forces that impact the prices and the behaviors of producers and consumers. The forces result in the creation of pricing signals. A fluctuation in the demand and supply of a given product or service creates pricing signals.