INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To more easily create advertising for the product
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To create an organized look and feel for the product
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To produce a better year-end report for the product
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To ensure a strong customer base for the product
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Detailed explanation-1: -Identifying a target market allows marketers to focus on those most likely to purchase the product. Limiting the population funnels research and budgets to the customers with the highest profit potential.
Detailed explanation-2: -If you know why customers buy a product or service, it’s easier to match their needs to the benefits your business can offer. If you approach a customer just at the time they want to buy, you will massively increase your chances of success.
Detailed explanation-3: -Space, location, and cost. What kinds of things should a business keep in mind when looking for facilities? A link for feedback on a website, a card inviting people to take an online survey, and comment cards available at the front desk.
Detailed explanation-4: -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.