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Market Recognition Module 2 Quiz

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Questions and Answers

What is the primary goal of module 2 in the business plan development course?

To identify potential markets and their problems. (correct)

To understand the importance of customer service in business.

To teach learners about financial forecasting.

To develop marketing strategies for existing products.

Which of the following is NOT a focus area of module 2?

Screening proposed solutions.

Analyzing market needs.

Proposing products or services.

Creating advertising campaigns. (correct)

What criteria are used to screen proposed solutions in module 2?

Sales forecasts, staffing needs, and operational efficiency.

Product design, brand recognition, and competition.

Market size, geographic location, and marketing costs.

Viability, profitability, and customer requirements. (correct)

Which technique is emphasized for recognizing potential markets?

<p>Seeking, screening, and seizing opportunities.</p> Signup and view all the answers

In module 2, what is evaluated to determine the best product or service to address a market need?

<p>Market needs and the viability of proposed solutions.</p> Signup and view all the answers

Study Notes

Module 2 Overview

Module 2 focuses on recognizing potential markets.
Learners will identify market problems/needs.
Learners will propose products/services to address needs.
Proposed solutions are screened for viability, profitability, and customer requirements.
Techniques for seeking, screening, and seizing opportunities are discussed.
Analyzing market needs, and selecting the best product/service to address needs are part of the module.

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Description

This quiz focuses on Module 2 of market recognition, where learners explore how to identify potential markets and the specific needs that arise within those markets. Participants will assess various products and services proposed to address these needs, ensuring they meet profitability and customer requirements. Test your knowledge on screening opportunities and selecting viable solutions based on market analysis.