Practicing Success

Target Exam

CUET

Subject

Entrepreneurship

Chapter

Entrepreneurial Opportunity

Question:

Trend spotting will help the entrepreneur to understand the market and produce goods or provide services in sync with the market trends. So every budding entrepreneur makes it a point to regularly observe where their target customers hang out. Identify from the following options, the way to spot trend highlighted in above statement.

Options:

Read Trends

Talk Trends

Watch Trends

Think Trends

Correct Answer:

Watch Trends

Explanation:

Watch trends: There‟s no substitute for getting out in the marketplace. The entrepreneurs make it a point to regularly go where their target customers hang out. If the customers are teenagers, that might be the local mall. If they are business people, it might be the region‟s "power lunch" restaurant or office park restaurant center. The entrepreneur spends some time simply watching and observing. What are people eating, doing, wearing, using? What stores or restaurants draw crowds and which sit empty? Trade shows are a great place to get trend ideas, too even if they are not looking to buy product, they attend many shows simply to see what‟s hot