Understanding Product Characteristics in Entrepreneurial Ventures

A product can be either ______ or homogeneous.

Entrepreneurial ventures that produce heterogeneous products include makers of ______, bags, and home decors.

Businesses that produce homogeneous products include makers of soft drinks, and ______.

Product description promotes and explains what a product is and why it’s worth ______.

Use ______ language and tone in your product description.

A prototype is a duplication of a product as it will be produced, which may contain details such as color, graphics, packaging, and directions. Benefits are the reasons why customers will decide to buy the products such as affordability, efficiency, or ease of use. The features of the product or service merely provide a descriptive fact about the product or service. Most importantly, it is better to test your product prototype to meet customers needs and expectations; and for your product to be known and saleable. Pretesting of the product or service is similar to a sample of the product or service given to the consumer free of cost in order that he/she may try the product before committing to a purchase. The entrepreneurs main concern is the satisfaction of a customer, for they are the life blood of the business. Without them, all the efforts, will be wasted as well as the chance to venture into a new business. In a manufacturing venture, the supplier plays a vital role. They are your business partners, without them your business will not live. You need them as much as you need your customers to be satisfied. But as an entrepreneur you have to a potential supplier who has loyalty and values your partnership: a supplier who would lead you to the fulfillment of your business objectives, mission and vision. This entity is part of a supply chain of a business, which may offer the main part of the value contained within its products. Certain suppliers may even involve in drop shipping, where they ship goods directly to the customers of the buyer. How do supply chain management systems ______ planning, production, and logistics with suppliers?

Prototype is created before the massive production of such product; an entrepreneur must consider prototyping. One of the important early steps in the inventing process is making a prototype. A prototype is a duplication of a product as it will be produced, which may contain such details as color, graphics, packaging and directions. Benefits are the reasons why customers will decide to buy the products such as affordability, efficiency or ease of use. The features of the product or service merely provide a descriptive fact about the product or service. Most importantly, it is better to test your product prototype to meet customers needs and expectations; and for your product to be known and saleable. Pretesting of the product or service is similar to a sample of the product or service given to the consumer free of cost in order that he/she may try the product before committing to a purchase. The entrepreneurs main concern is the satisfaction of a customer, for they are the life blood of the business. Without them, all the efforts, will be wasted as well as the chance to venture into a new business. In a manufacturing venture, the supplier plays a vital role. They are your ______, without them your business will not live. You need them as much as you need your customers to be satisfied. But as an entrepreneur you have to a potential supplier who has loyalty and values your partnership: a supplier who would lead you to the fulfillment of your business objectives, mission and vision. This entity is part of a supply chain of a business, which may offer the main part of the value contained within its products. Certain suppliers may even involve in drop shipping, where they ship goods directly to the customers of the buyer. How do supply chain management systems coordinate planning, production, and logistics with suppliers?

Prototype is created before the massive production of such product; an entrepreneur must consider prototyping. One of the important early steps in the inventing process is making a prototype. A prototype is a duplication of a product as it will be produced, which may contain such details as color, graphics, packaging and directions. Benefits are the reasons why ______ will decide to buy the products such as affordability, efficiency or ease of use. The features of the product or service merely provide a descriptive fact about the product or service. Most importantly, it is better to test your product prototype to meet ______ needs and expectations; and for your product to be known and saleable. Pretesting of the product or service is similar to a sample of the product or service given to the consumer free of cost in order that he/she may try the product before committing to a purchase. The entrepreneurs main concern is the satisfaction of a customer, for they are the life blood of the business. Without them, all the efforts, will be wasted as well as the chance to venture into a new business. In a manufacturing venture, the supplier plays a vital role. They are your business partners, without them your business will not live. You need them as much as you need your ______ to be satisfied. But as an entrepreneur you have to a potential supplier who has loyalty and values your partnership: a supplier who would lead you to the fulfillment of your business objectives, mission and vision. This entity is part of a supply chain of a business, which may offer the main part of the value contained within its products. Certain suppliers may even involve in drop shipping, where they ship goods directly to the ______ of the buyer.

What is the purpose of a product description?

Describe the difference between a heterogeneous and homogeneous product.

Why is it important to test a product prototype?

What role does a supplier play in a manufacturing venture?

What guidelines are recommended for writing a good product description?

What is the purpose of creating a prototype in the inventing process?

What are the benefits that influence customers to buy products?

Why is it important to test a product prototype?

What role does the supplier play in a manufacturing venture?

How do supply chain management systems coordinate planning, production, and logistics with suppliers?