INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A new variety of a mainstream product.
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A unique idea with demand.
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A well followed service with many established customers.
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None of the above
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Detailed explanation-1: -Consumer demand is an economic measure of a group’s desire for a product or service based on availability. It represents the buying habits of consumers and helps determine the purchasing trends of specific populations.
Detailed explanation-2: -Demand is determined by a few factors, including the number of people seeking your product, how much they’re willing to pay for it, and how much of your product is available to consumers, both from your company and your competitors. Market demand can fluctuate over time-in most cases, it does.
Detailed explanation-3: -Step 1: Create demand. Conduct thorough market research. Evaluate competitors. Step 2: Increase demand. Diversify your marketing strategy. Educate through content marketing. Step 3: Turn product demand into sales. Consider different sales strategies. 29-Jun-2022