In order to start making a profit, an individual should first consider the existing conditions in the market to determine the value aspect of the business. To engage in value creation and estimate the maximum price the consumer is willing to pay for the product, the business should consider what makes their products different from what other companies offer. Next, the business should consider the time frame for its activities and methods to reach the target group of consumers. Then, the business should consider the financial costs of production and possible sources for investments.
You have identified an opportunity, thought about your beach head market, and even designed your first product. You need to make some money now. What are some considerations you would think about?
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Academic.Tips. (2022) 'You have identified an opportunity, thought about your beach head market, and even designed your first product. You need to make some money now. What are some considerations you would think about'. 3 November.
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Academic.Tips. (2022, November 3). You have identified an opportunity, thought about your beach head market, and even designed your first product. You need to make some money now. What are some considerations you would think about? https://academic.tips/question/you-have-identified-an-opportunity-thought-about-your-beach-head-market-and-even-designed-your-first-product-you-need-to-make-some-money-now-what-are-some-considerations-you-would-think-about/
References
Academic.Tips. 2022. "You have identified an opportunity, thought about your beach head market, and even designed your first product. You need to make some money now. What are some considerations you would think about?" November 3, 2022. https://academic.tips/question/you-have-identified-an-opportunity-thought-about-your-beach-head-market-and-even-designed-your-first-product-you-need-to-make-some-money-now-what-are-some-considerations-you-would-think-about/.
1. Academic.Tips. "You have identified an opportunity, thought about your beach head market, and even designed your first product. You need to make some money now. What are some considerations you would think about?" November 3, 2022. https://academic.tips/question/you-have-identified-an-opportunity-thought-about-your-beach-head-market-and-even-designed-your-first-product-you-need-to-make-some-money-now-what-are-some-considerations-you-would-think-about/.
Bibliography
Academic.Tips. "You have identified an opportunity, thought about your beach head market, and even designed your first product. You need to make some money now. What are some considerations you would think about?" November 3, 2022. https://academic.tips/question/you-have-identified-an-opportunity-thought-about-your-beach-head-market-and-even-designed-your-first-product-you-need-to-make-some-money-now-what-are-some-considerations-you-would-think-about/.
Work Cited
"You have identified an opportunity, thought about your beach head market, and even designed your first product. You need to make some money now. What are some considerations you would think about?" Academic.Tips, 3 Nov. 2022, academic.tips/question/you-have-identified-an-opportunity-thought-about-your-beach-head-market-and-even-designed-your-first-product-you-need-to-make-some-money-now-what-are-some-considerations-you-would-think-about/.