Innovation means to develop a new and unique product or service

Marketing is the process of how information flows from the business to the customer

For the collection of secondary data, Statistics South Africa (STATS SA) is a good source to contact and get your data from

To compete against competitors with your price of product/service, one way is to retrench staff to cut down on overheads

Another word used to describe an intrapreneur is the word “Rainmaker”

Starting up an entrepreneurial venture requires having a proper debit control system in place for customers to pay on time

The method of “Attribute analysis” is often used to come up with a name for a new product

The formula to calculate profit is the following:

         Profit = (Selling price – Cost price) x quantity sold – fixed costs

Market segmentation is the process of segmenting your total market into smaller markets to supply different products to them