Once entrepreneurs have defined the industry that interests them, determined who their potential customers might be and why they might want to buy from the business, the next step is to start understanding the competitive advantage of the business.
Correct Answer:
Verified
Q26: An exit barrier keeps an entrepreneur from
Q27: If the expenses incurred in operating a
Q28: Elasticity of demand is the ease that
Q29: One possible result of the development of
Q30: In the context of external analysis of
Q32: A substitute exists if the service or
Q33: Fragmented markets are markets where no one
Q34: A competitive map is an analytical tool
Q35: James is opening up a gourmet hamburger
Q36: The egalitarian approach helps the small business
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents