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:

Exclusive Right

A legal entitlement allowing an individual or entity to engage in a particular activity or use a particular property to the exclusion of all others.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing to be enforceable.

Trade Secret

Confidential business information that provides a competitive edge and is protected from disclosure.

Protection

Measures or actions taken to guard against damage, loss, or harm to individuals or property.