3rd Bac -Description of the entrepreneurship and the good or service

 https://www.youtube.com/watch?v=eJK1L6E1uFU&ab_channel=PatNorman 

Description of the entrepreneurship and the good or service

Purpose of an Entrepreneurship 

To fulfill a need not met in the market, this is an opportunity for an entrepreneur. 

An effective description process of a product (good or service) is that which, not only worries about the natural characteristics but also puts a lot of emphasis on differentiation. This can help the entrepreneur to take advantage over the weaknesses of the competition.

 

Creativity and innovation are incorporated to a good or service.

            A person that is thinking about creating a product must have creativity (new ideas) that later can be incorporated to the innovation (design) of a good or service. 

 

Differentiation

            When a good or service is presented to the public, the entrepreneur must focus on the description of differentiating elements. Between creativity, innovation, and differentiation there is a close relationship at the time to design and present the good or service. It is important to observe what the competition is doing, this way the weaknesses of other companies can turn into an opportunity to get an advantage.

 

A Need that Satisfies. 

An entrepreneur must always look for unsatisfied needs in the market and ask: which is the good or service that can satisfy the need detected? This creates a business opportunity for the entrepreneur

 

Market Orientation

            When an entrepreneur shows interests on knowing the unsatisfied needs on the market, he or she is showing an orientation towards what his potential customers think. And Then customers, feel that the purchase and the use of a product exceeds their expectations, the customers are satisfied. The product has satisfied the like and preferences of the customer.


CLASSWORK

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