What Factors Do You Have to Consider When Selecting a Target

question 24

Multiple Choice

What factors do you have to consider when selecting a target industry for a venture:

• A) The technology life cycle stage of the industry overall, often reflected by new technologies, products, and services recently announced by players in the industry
• B) The channels of distribution within an industry
• C) No existing barriers to entry that might make your life extremely difficult as an entrepreneur
• D) All of the above

---

Definitions:

Cross Buying

The practice where customers purchase additional different products or services from the same company.

Staircase Analysis

A method for evaluating the progressive steps or stages in a process, such as customer conversion or product development, to identify improvements.

Brand Awareness

The extent to which consumers are familiar with the qualities or image of a particular brand of goods or services.

Market Share

The part of a market that is under the influence of a distinct company or product.