The First Step in Identifying Potential Markets Is to Assess

question 78

True/False

The first step in identifying potential markets is to assess the basic demand for a product.

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Definitions:

Per-Unit Costs

The cost incurred to produce, manufacture, or acquire a single unit of a product or service.

Decrease

A reduction in size, quantity, or importance of something.

Technological Advancements

Progress in technology which results in new inventions and innovations that can improve the efficiency and productivity of systems.

Worker Productivity

Refers to the amount of goods and services that a worker produces in a given amount of time.