INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a, all work team members must memorize them.
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b. there cannot be product differentiation through any other means.
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c. a successful USP is always very short.
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d. customers tend to remember just one thing from an advertisement.
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Detailed explanation-1: -Your USP or unique selling proposition is what distinguishes your brand, your company, your product or your service from your competitors. In other words, it helps you gain potential customers’ attention, converting and retaining them.
Detailed explanation-2: -Which of the following is a characteristic of successful USPs: meaningful to the customer.
Detailed explanation-3: -ADVERTISEMENTS: Some of the factors to consider while selecting a channel of distribution are: (1) The Nature of the Product (2) The Nature of the market (3) The Nature of Middlemen (4) The nature and size of the manufacturing unit (5) Government Regulations and Policies and (6) Competition.
Detailed explanation-4: -When a business offers a service that saves time for a customer, which is a benefit to the customer? Q. Which is a benefit to businesses of offering customized services to their customers? Businesses charge higher prices for customized services, which can lead to higher profit margins.