Determine whether your business concept is product, service, or both. (CO2, 4) This module helped you understand how important it is to determine whether your business concept is a product or service, or both. In this activity, you continue to develop your business concept. Describe the type of business you will operate, in general. Provide the following information: Will you be selling a product, service, or both? Describe the product or service (or both) in detail. Explain the qualities that differentiate your product, service, or both from others in the business environment. If you are not familiar with your competition, start conducting market research now. If this is a completely new business concept, explain why it is necessary why will people by it? Evaluate whether the type of entrepreneur you identified yourself as in the last module aligns with the type of business you have identified here. Explain why or why not.
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