A Common Way That Gaps in the Marketplace Are Recognized

question 48

Multiple Choice

A common way that gaps in the marketplace are recognized is ________.

• A) by observing changing environmental trends
• B) by recognizing problems that need to be solved
• C) via studying industry reports
• D) when people become frustrated because they can't find a product or service that they need and recognize that other people feel the same way
• E) via combined focus groups and brainstorming sessions

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Definitions:

Differential Revenue

The difference in revenue generated from two different business decisions or periods, used to analyze the financial impact of those decisions.

Alternative Proposed Use

A potential use of resources or assets under consideration as an option different from their current application.

Cash

Money in the form of bills or coins, used as a medium of exchange; in accounting, it often refers to assets that are readily available for use.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision.