RECOGNIZE POTENTIAL MARKET

This is essential to opportunity – seeking which allows the entrepreneur to see

things in a positive and optimistic light in the midst of crisis or difficult

situations.

It is the ability of entrepreneur that can sense without using the five senses,

also known as intuition.

One of the essentials of entrepreneur’s opportunity – seeking that refers to the

driven passion of an individual.

What variable of societal environment includes income level and employment

rate?

Which are the factors of the substitute product that pose a great threat in the

industry environment?

• Preferences and tastes of the customers do not easily change.

• The buyer has the potential for backward integration.

• The cost of switching the supplier cost is minimal.

• Product differentiation is highly noticeable.

Which are the factors that influence the buyer to have a less threats because

of the bargaining power?

• Preferences and tastes of the customers easily change.

• The buyer has the potential for backward integration.

• The cost of switching the supplier cost is not minimal.

• Product differentiation is highly noticeable.

The intensity of rivalry among existing firms is characterized to the following

factors except one:

• Diversity of rivals

• Number of competing firms

• Characteristics of the products or services

• The product represents a high percentage of the buyer’s cost

They are the ones who pay cash in exchange for your goods and services.

The following are the forces competing within the industry except one:

• Potential new entrants and Substitute Products

• Buyers and Suppliers

• Rivalry among Existing Firms

• Needs and Wants

The following are the forces competing within the industry except one:

• Potential new entrants and Substitute Products

• Buyers and Suppliers

• Rivalry among Existing Firms

• Needs and Wants