INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An idea for a business that includes basic information such as the service or product, the target demographic, and the unique selling proposition can be defined as:
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Idea generation
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Opportunity
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Business concept
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Harvesting
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Explanation:
Detailed explanation-1: -Marketing refers to all activities a company does to promote and sell products or services to consumers. Marketing makes use of the “marketing mix, ‘’ also known as the four Ps-product, price, place, and promotion.
Detailed explanation-2: -A business can peg its USP on product characteristics, price structure, placement strategy (location and distribution) or promotional strategy. These are what marketers call the “four P’s” of marketing. They are manipulated to give a business a market position that sets it apart from the competition.
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