quiz 4 Flashcards
it will have an impact on how much you sell it
size and weight
need extra attention when shipping to ensure they arrive in perfect condition
fragile product
fragility
SKU stands for
stock keeping unit
refers to color, size, gender and other variations of a single product
SKU
different levels of demand for a product throughout the year
seasonality
make sure your prices are still attainable for target customers
price point
the more niche your products, the less competition, can be a good thing
competition
select one that you actually enjoy or one that solves a problem you have personally experienced
consider yourself
4 aspects of entrepreneurial process
opportunity spotting and assessment
developing a business plan
determining the capital
running the business
beginning of the process and most difficult, they take note of interesting trend in their environment
opportunity seeking and assessment
formulate a business plan when already spotted and assessed the opportunities for a market
developing a business plan
a comprehensive paper that details the marketing, operational, human resource, financial, strategic direction, tactics
the core guide and direction of the business
business plan
mandatory in the entrepreneurial process to calculate the resources needed
allowance must be considered
determining the capital needed
uses the resources allocated for the new venture
running the business
all aspects of the business plan should be critically observed
TRUE OR FALSE
KORIQUE SO MUCH
