Identifying the Unmet Needs of Customers in a Target Market

question 23

Multiple Choice

Identifying the unmet needs of customers in a target market allows you to:

• A) Determine competitive solutions
• B) Determine if a market opportunity exists
• C) Make a distribution decision
• D) Compile accurate financial information

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Definitions:

Corporate Form

A business structure where the entity is distinct from its owners, providing limited liability protection, ease of transferring ownership, and potential for growth.

Legal Entities

Organizations that have legal rights and obligations, including the capacity to enter into contracts and own property, distinct from their members.

Partnerships

A legal arrangement where two or more individuals share ownership of a business, including its profits, losses, and responsibilities.

Proprietorships

A business structure owned by a single individual where the owner and the business are legally treated as the same.