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When a student wants to start a stationery service near school and first checks which items students need most, which entrepreneurial process is being used?

Answer and explanation

Correct answer: Identifying a market need

The student is studying the needs of a specific customer group before investing in the venture. This is market-need identification and is an early part of recognising a business opportunity. Advertising, spending, or distributing profit can occur later, but none explains the initial investigation of demand.

Related tags

Market-NeedOpportunity-IdentificationEntrepreneurship DevelopmentMsme And Business EntrepreneurshipBusiness StudiesClass 11 Mcq

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