An Entrepreneur Identifies a Gap in the Market for Camping

question 32

Multiple Choice

An entrepreneur identifies a gap in the market for camping goods.He recognizes that ropes with high stress tolerances would be very popular with campers.He gathers a group of his friends, many of whom go camping regularly, and asks them to generate ideas for the best application of ropes with high stress tolerances in camping.In this scenario, the entrepreneur

• A)performs a due diligence analysis.
• B)performs a gap analysis.
• C)conducts a brainstorming session.
• D)conducts a risk evaluation.

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Definitions:

Robinson-Patman Act

A United States federal law aimed at preventing anticompetitive practices by producers, specifically prohibiting price discrimination that lessens competition.

Preventing Competition

Strategies or actions taken by companies or regulatory bodies to limit competition within a market, which can include monopolistic practices, exclusive agreements, or legal regulations.

Federal Trade Commission Act

United States federal law established in 1914 to prevent unfair competition, deceptive advertising, and monopolies, overseen by the Federal Trade Commission.

Clayton Act

A United States antitrust law enacted to prohibit certain actions that lead to anti-competitiveness, supplementing the Sherman Antitrust Act.