Arthur R Kydd Has Helped Launch More Than 60 Start-Up Firms

question 31

Multiple Choice

Arthur R. Kydd has helped launch more than 60 start-up firms and believes if you have a real product with a distinctive point of difference that satisfies the needs of customers, you may have a winner. The way to demonstrate this to him is to

• A) create a prototype and test it in the real world.
• B) submit a quality résumé that demonstrates the likelihood of future success.
• C) develop a well-written marketing or business plan.
• D) make a list of all the other ideas you have, including this one.
• E) ask for an informal interview.

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Definitions:

Market Segmentation Strategies

The process of dividing a broad consumer or business market into sub-groups based on shared characteristics, to tailor marketing strategies effectively.

Advantages and Disadvantages

A comparison of the positive aspects and drawbacks of a particular decision, product, or strategy.

Business Buying Process

A series of decisions made by organizations while purchasing products or services for operational, production, or reselling purposes.

Consumer Buying Process

A series of steps that consumers undergo when making a purchasing decision, including need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior.