2023 Chapter 7 Entrepreneurship

What is a market?​ ​ (a)  

• a group of potential customers
• what you use to make money
• Business to Customers

(a)   research is an organized way to gather and analyze information needed to make business decisions.

(a)   environment refers to any social, economic, or political factors that could impact your business.

(a)   capacity refers to the maximum number of companies an industry can support based on its potential customer base.

You may be tempted to try to sell your product or service to as many consumers as possible. This is referred to as (a)   market

A (a)   maket is a limited number of customers who are most likely to buy the product or service.

A (a)   profile is a detailed description of your target market's characteristics.

A company who sells to individuals is commonly referred to as a business-to- (a)   company.

A company who sells to other companies is sometimes called a business-to- (a)   company.

A (a)   segment is a group of consumers or businesses within a particular market that has one or more things in common.