Podcast
Questions and Answers
What is the primary goal of module 2 in the business plan development course?
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?
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?
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?
Which technique is emphasized for recognizing potential markets?
In module 2, what is evaluated to determine the best product or service to address a market need?
In module 2, what is evaluated to determine the best product or service to address a market need?
Flashcards
Market recognition
Market recognition
Identifying market problems/needs and proposing solutions
Solution screening
Solution screening
Evaluating proposed solutions based on viability, profitability, and customer needs.
Market opportunity
Market opportunity
A potential market or need for a product or service.
Market analysis
Market analysis
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Product/service selection
Product/service selection
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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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