Budgets Are Not Necessary for Smaller Companies

question 12

True/False

Budgets are not necessary for smaller companies.

---

Definitions:

Market Size

The total volume of sales or potential sales for a product or service within a particular market.

Product Differentiation

The act of differentiating a product or service to appeal more to a specific target audience, thereby making it stand out from competitors.

Product Substitutes

Products that can replace each other in use or consumption, providing consumers with choices in the market.

Differentiated Product

A differentiated product is a good or service that has unique attributes or qualities distinguishing it from similar products offered by competitors.