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Write the Meaning of Product Identification in Terms of Business Opportunity. - Entrepreneurship

Short Note

Write the meaning of product identification in terms of business opportunity.

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Solution

So the first step is to obtain a concept of the product or service suggested bone idea. We should also see whether this product is already available in the market or not. If it is, then we should identify the reason for introducing the same product or service in the market. For example, innovating a new pen drive especially for teachers which will have a built in antivirus and which can be worn like a watch. So, it minimises the problem of losing the pen drive.

Concept: Concept and Elements of Business Opportunity
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APPEARS IN

CBSE Class 12 Entrepreneurship Textbook
Chapter 1 Entrepreneurial Opportunity
Short Answers (exceed 75 words) | Q 2 | Page 27
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