The Most Important Reason to Understand What Segments & Niches

question 6

Multiple Choice

The most important reason to understand what segments & niches of your industry are the subject of venture activity is:

• A) It greatly increases the chances of you raising money if needed
• B) It can give you an insight into what other companies are doing
• C) You can recognize customer trends and desires
• D) You can find competition you previously didn't know of

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Definitions:

Special Cause Variation

A type of variation in a process, identified as being caused by specific identifiable factors, unlike common cause variation which is inherent to the process.

Special Cause Variation

Variation in a process that is caused by specific, identifiable sources, unlike random variation, which is inherent in the process.

Major Accident

An incident, often within industrial or transportation settings, which results in significant harm to people, property, or the environment.

Injection Molding

A method for fabricating parts by injecting liquid material into a mold.