Define the following terms:
1.1.1
1.1.2
Business idea
Is a concept or proposal for a new
Or improved product, service
Brainstorming
A creative thinking technique
(2)
(2)
1.1.3
Market size
The total number
Custor
ential
(2)
1.1.5
Target Market
Aspecific group
onsumers
or bus
ses
(2)
1.1.5
Market research
Name TWO possible techniques that can be used to screen business ideas.
(2)

Question

05-06-2024
English

Answered

Define the following terms:
1.1.1
1.1.2
Business idea
Is a concept or proposal for a new
Or improved product, service
Brainstorming
A creative thinking technique
(2)
(2)
1.1.3
Market size
The total number
Custor
ential
(2)
1.1.5
Target Market
Aspecific group
onsumers
or bus
ses
(2)
1.1.5
Market research
Name TWO possible techniques that can be used to screen business ideas.
(2)

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-06-05T08:49:50-04:00

Final answer:

Brainstorming involves creative thinking, Market size considers potential customers, and SWOT analysis and feasibility study are techniques to screen business ideas.

Explanation:

Brainstorming: Brainstorming is a creative thinking technique used to generate ideas and solutions.

Market Size: Market size refers to the total number of potential customers or the potential revenue a market can generate.

Screening Business Ideas Techniques:

SWOT Analysis: SWOT analysis helps in evaluating the strengths, weaknesses, opportunities, and threats of a business idea.
Feasibility Study: A feasibility study assesses the practicality and viability of a business idea.

Learn more about Defining business terms and techniques for screening business ideas here:

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