One way of keeping your new product idea protected is to register a patent.

Identifying your target market is not as important as developing a logo for your business.

Inflation is calculated by comparing the price of a specific product, for example, a Luxury LED Television, in a specific month with the price of that same product of the same month, but in the previous year.        

A promotion on one item can have a rollover to purchase other products as well.

Successful entrepreneurs are people who know how to follow orders from leaders.

Gaps in the market appear when a product or service is unavailable; when the demand is higher than the supply, or even when existing products or services are below standard.

By comparing an unfamiliar idea to something more known, a person gets a better understanding of a complex problem or idea. This process is called “Metaphorical analogy”.

When your product or service is more attractive to customers than those of your competitors, it is called marketing research.       

One method of collecting primary data is to conduct surveys.