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Question 1:
I have studied the intended markets, to see if I can meet the needs and wants of buyers, better than my competition can?

 

 

Markets are divided by using:
WANTS: The benefits consumers expect to receive as a result of using your product and their motivation for buying the product and the purchasing habits.

NEEDS: The particular use of the product as perceived by the consumer.

If a company can identify a common want and need, then that products stands a better change of finding acceptance in the targeted market/s.

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