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Entrepreneurship Unit 2 Evaluating the market

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Entrepreneurship Unit 2 Evaluating the market

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Questions and Answers

What is important for entrepreneurs to have in order to achieve business success?

A strong marketing plan (correct)

A stable foundation of corporate clients

A powerful niche

A large retail area

What should a business owner do if a customer is unsatisfied with their purchase?

Post a response on multiple websites

Ignore the customer's complaint

Offer a discount on future purchases (correct)

Refuse to give a refund

Which of the following best defines market share?

The amount of profit made by a company

The total revenue generated by a company

The number of competitors in a specific market

The percentage of sales earned by a company over a specific period of time (correct)

What is the goal of a business in terms of market share?

To have a greater market share than its competition Signup and view all the answers

Why is it important for businesses to have strategies to stay ahead in the competition?

To maintain or increase their market share Signup and view all the answers

What does networking involve in the context of businesses with similar goals and interests?

Sharing information and resources Signup and view all the answers

Entrepreneurship Unit 2 Evaluating the market

Choose a study mode

Podcast

Questions and Answers

What is important for entrepreneurs to have in order to achieve business success?

What should a business owner do if a customer is unsatisfied with their purchase?

Which of the following best defines market share?

What is the goal of a business in terms of market share?

Why is it important for businesses to have strategies to stay ahead in the competition?

What does networking involve in the context of businesses with similar goals and interests?

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