Entrepreneurship: Recognize and Understand the Market PDF
Document Details
Tags
Summary
This document discusses recognizing and understanding the market, identifying target markets, and analyzing customer requirements in entrepreneurship. It covers different types of customer requirements, service requirements, and output requirements, along with the concept of market size.
Full Transcript
ENTREPRENEURSHIP RECOGNIZE AND UNDERSTAND THE MARKET TARGET M ARKET TARGET M ARKET ▸ Is sage in market identification process that aims to determine the buyers with common needs and characteristics. 4 CUSTOM ER REQUIREM ENTS ▸ Are the specific chara...
ENTREPRENEURSHIP RECOGNIZE AND UNDERSTAND THE MARKET TARGET M ARKET TARGET M ARKET ▸ Is sage in market identification process that aims to determine the buyers with common needs and characteristics. 4 CUSTOM ER REQUIREM ENTS ▸ Are the specific characteristics that the customers need from a products or a service. TYPES OF CUSTOMER REQUIREMENTS ▸ Service Requirement ▸ Output Requirement 5 SERVICE REQUIREM ENT ▸ Intangible thing ▸ It includes all aspects of how a customer expect to be treated while purchasing a product a product and how easy the buying process goes. 6 OUTPUT REQUIREM ENTS ▸ Tangible thing ▸ Costumer that will avail services as a product, then various service requirements can take the form of output requirements. 7 M ARKET SIZE ▸ It is the approximate number of sellers and buyers in a particular market. 8
