3

Question 1

the process of evaluating and filtering potential business ideas based on their feasibility

Answer 1

Oppurtunity Screening

Question 2

can be goods or services

Answer 2

Products

Question 3

are the sale of the physical products from the manufacturer to consumer

Answer 3

Goods

Question 4

are intangible products that the satisfaction of the customer can be measured

Answer 4

Services

Question 5

defined as a display information about the product on its container, packaging, or on product itself

Answer 5

Labeling

Question 6

refers to the distribution channels and locations where customers can access the product

Answer 6

Place

Question 7

refers to the people that regularly come into contact with your business

Answer 7

Customer Traffic Flow

Question 8

a lot of competitors clustered in one location

Answer 8

Industry Clustering

Question 9

locations where multiple industries converge

Answer 9

Convergence of Multiple Industries

Question 10

where people live, goods and service follow

Answer 10

Population Concentration

Question 11

provide good location potential

Answer 11

Activity Hubs

Question 12

Business are always looking for new areas to expand and grow

Answer 12

Growth Potential

Question 13

enterprise prefer locations that are conductive in doing business

Answer 13

Business Climate

Question 14

defined as the activities and processes required to move a product from producer to consumer

Answer 14

Distribution Channels

Question 15

shortest and simpliest channel of distribution of goods from manufacturer to consumer

Answer 15

Direct Channel

Question 16

when a manufacturer employs one or more intermediaries to sell and distribute their product to the customer

Answer 16

Indirect Channel

Question 17

it involves considering costs, competitions to determine the optimal pricing strategy

Answer 17

Price

Question 18

how you are seen and thought about by your customer

Answer 18

Positioning

Question 19

represent the employees who deliver the service or who interact with customer

Answer 19

People

Question 20

lead and motivate others

Answer 20

Leadership Skill

Question 21

able to express clearly to people

Answer 21

Communication Skill

Question 22

building a good relationship to customer

Answer 22

Personal Relationship

Question 23

dealing with people based on respect

Answer 23

Ethics

Question 24

coming up with innovative or original ideas

Answer 24

Creative Thinking

Question 25

think ways to solve a problem

Answer 25

Problem Solving

Question 26

identifying or spotting a trend

Answer 26

Recognizing Oppurtunities

Question 27

involves all the communication strategies used to inform, persuade and remind customers about the product

Answer 27

Promotion

Question 28

refers to the specific combination of the tools and channels and processes you use to promote your offering

Answer 28

Promotional Mix