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Steps in Developing the Business Concept

Steps in Developing the Business Concept

Assessment

Flashcard

•

Business

•

12th Grade

•

Practice Problem

•

Hard

Created by

Tenessa Phillip

Used 1+ times

FREE Resource

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9 questions

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1.

FLASHCARD QUESTION

Front

Identify potential market

Back

Eco-friendly products target environmentally-conscious individuals, sustainable living enthusiasts, and eco-focused communities.

2.

FLASHCARD QUESTION

Front

Decide on target market

Back

The target market includes individuals and families focused on reducing waste and embracing sustainable lifestyles.

3.

FLASHCARD QUESTION

Front

Identify customer segment within the market

Back

Customer segments include young professionals, families with children, and eco-conscious seniors.

4.

FLASHCARD QUESTION

Front

Identify segment characteristics

Back

Segment characteristics involve environmental awareness, shopping habits, income levels, and interest in household sustainability.

5.

FLASHCARD QUESTION

Front

Decide on target segments

Back

Primary target segments are young professionals and families teaching eco-conscious values.

6.

FLASHCARD QUESTION

Front

Identify customer needs or preferences

Back

Customer needs focus on high-quality, durable, and visually appealing eco-friendly products that are safe and easy to clean.

7.

FLASHCARD QUESTION

Front

Decide on marketing mix factors such as pricing

Back

Pricing should highlight long-term savings and environmental benefits, with options for bundling and varied price points.

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