entrepreneurial mind midterm

The following are the common ways of developing ideas except:

• recognizing the needs

• recognizes trends

• improving a market

• improving an existing products

The following are the common ways of developing ideas, except:

• naming it, develop it

• recognizing the market

• be aware of everything

• question and assumption

It is a process of coming up with an idea, using creativity and questions like what if?

It involves an agent or buyer entering an agreement with parent company to market its goods to various store.

• wholesaler

• rack jobber

• subcontracting

• vending machines

Selection process wherein the products are sold to the manufacture or procedure

• vending machines

• rack jobber

• subcontracting

• wholesaler

Stages of product life cycle wherein growth of demand product distribution is expanded sales rise rapidly as product become popular.

• maturity

• growth

• decline

• selling

Stages of product life cycle wherein there is a sharp fall in sales volume, while profit curve becomes almost flat.

• selling

• growth

• maturity

• decline

Stages of product life cycle wherein sales are still rising but rate of increase has decline at later part a sale reaches it peak, while profit begins to fall.

• maturity

• selling

• growth

• decline

It refers to the number of prospective buyers, competitors, the price and the quality of goods and services that have to be analyzed.

Business interest of individual should match business opportunities.