ENTREP - QUIZ 2

opportunity seizing

- all about thriving business opportunities

- it talks about how you search/thrive or find an opportunity for yourself

perception

how your brand, product, or service is viewed in the minds of your target audience

positioning statement

an expression of how a given product, service, or brand fills a particular consumer need in a way that its competitors dont

positioning

is the process of identifying an appropriate market niche for a product and getting it established in that area

consumer profiling

- process of creating customer profile

- when you create a data-led profile of your organizations ideal customers

concept

an idealized abstraction of the product or service to be offered to the preferred market of the entrepreneur

designing

means that the entrepreneur must render the concept and translate it into its physical very dimensions

prototype

- means a first or preliminary version of a device or vehicle from which other forms are developed

- also means an original model on which something is patterned

prototype testing

a way to test a product before it is released to the public

end result

refer to the final outcomes of the business