TASK 2

1. In creating a business, it is of outmost important to know the nature of the products or services
that you are going to provide for your desired costumers. There is what we call SWOT Analysis
that can help you determine the possible product or services that you can offer. Using this tool,
you can identify what your customers need, your competitors and the perfect business venture
that you can do in a specific location. When you are now able to perform all of these, do not
stop innovating and giving your customers the service that they need.
2. In choosing a business, you must choose the best business that suits you and you can enjoy
while operating it. Follow also the SWOT Analysis because this will be your guide in building your
own business. It is also much better if you consult someone who is also engaged in any business
venture so that they can give you advice on what you should and shouldn’t do while making
your business.
3. We can say that a certain product has a value when it is sold on market and if many people
demands on it.
4. Yes, it is important to apply creativity. When your product isn’t improving or you are not
innovating, it wouldn’t attract your customers that much. This might lead to not having enough
sales that can also result to closing your business.
5. To be able to respond to your customer needs, you have to figure out what they really need and
how they want it to be served. Conduct a survey to those who buys your product especially
those you are within your area. Then, you can decide on the product or service that you would
sell to aid their needs.