ENTREP 1 PPT 2 PART 1

is the ability to make or otherwise bring into existences something new, whether a new solution to a problem, a new method or device, or a new artistic object or form.

is the process of bringing the best ideas into reality, which triggers a creative idea,

is the process that combines ideas and knowledge into new value.

Promising new product/service ideas should be identified and impractical one eliminated in the ..., allowing maximum use of the company's resources.

it should be further developed and refined through interaction with consumers. One. method of measuring consumer acceptance is the conversational interview in which selected respondents are exposed to statements that reflect the physical characteristics and attributes of the product/service idea.

One tool frequently used in this stage is the consumer panel, in which a group of potential consumers is given product samples.

provides actual sales results, which indicate the acceptance level of consumers.

is a concept from business management by which businesses gather information from the environment, to better achieve a sustainable competitive advantage.

analysis is a useful tool for understanding risks associated with several forms of markets, growth or decline, and as such the position, potential and direction for an individual business or organisation.

is a market evaluation tool that businesses and companies use to comprehend and analyze the degree of competition in a certain industry