INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
What is the optimal break-even point for the product?
|
|
|
Should I move the product through direct or indirect channels?
|
|
|
How much money should I allocate for next month’s advertising?
|
|
|
Is the market willing and able to pay for the product?
|
Detailed explanation-1: -When starting a business, it’s important to ask yourself what problem you are solving. Once you know the answer to this question, you can begin to develop a product that solves that problem.
Detailed explanation-2: -1. Learn about your customer. Whether you call it “market research, ‘’ or “customer development” it’s key to learn about what drives your customer. Identifying their goals, motivations, and pain points could lead you to developing and marketing a valuable solution.
Detailed explanation-3: -Question #1: Is the new idea big enough to matter? Question #2: Can you leanly test it and quickly find out if it’s viable? Question #3: What’s your differentiation or competitive advantage? Question #4: What’s the opportunity cost? More items •01-Apr-2021
Detailed explanation-4: -Why do I want to start a business? Can this business idea make me money now and in the future? Who is my target audience for my business? Who are my competitors? What is your USP? How will I market my business? How will I price my products? Do I have the funds to start this business? More items •29-Jul-2020