An Entrepreneur Would Need Selling Skills in the Following Situation

question 42

Multiple Choice

An entrepreneur would need selling skills in the following situation:

• A)identifying her target market.
• B)developing an appropriate price strategy.
• C)developing an integrated marketing communications plan.
• D)developing a product.
• E)approaching the bank to arrange financing for her business.

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Definitions:

Price Increase

A rise in the cost of goods or services over a period of time, often affecting the purchasing power.

Cheese

A dairy product derived from milk that is produced in a wide range of flavors, textures, and forms by coagulating the milk protein casein.

Substitutes

Products or services that can replace each other in use, causing the demand for one to increase when the price of the other rises.

Complements

Goods or services that are used together with another, such that the demand for one increases when the price of the other decreases.