INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The produce section in a shopping center
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A group sharing common resources and costs used during business start-ups
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A breakdown of business strategy provided to customers for review and investigation.
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A subgroup of a larger market that shares at least one characteristic or need
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Detailed explanation-1: -A market segment is a group of people who share one or more similar characteristics. Corporations and marketing teams use various criteria to develop target markets for their products and services.
Detailed explanation-2: -Five ways to segment markets include demographic, psychographic, behavioral, geographic, and firmographic segmentation.
Detailed explanation-3: -Market segmentation is a marketing strategy that uses well-defined criteria to divide a brand’s total addressable market share into smaller groups. Each group, or segment, shares common characteristics that enable the brand to create focused and targeted products, offers and experiences.
Detailed explanation-4: -Demographic, psychographic, geographic, and behavioral are the four pillars of market segmentation, but consider using these four extra types to enhance your marketing efforts.
Detailed explanation-5: -The subgroups can be based on demographics such as geographic location, gender identity, age, ethnicity, income, or level of formal education. Subgroups can also be based on behavior, such as purchasing history.