Question

Some years back, a number of manufacturers of low-end, inexpensive cell phones started introducing their products into the Eastern African market. David, the owner of a medium-sized firm manufacturing mid-priced cell phones, believes the Eastern African market is now ready for slightly more expensive phones with greater functionality. If he's right, David has identified a(n):

Answer 1

Answer:

entrepreneurial opportunity

Explanation:

Entrepreneurial opportunities refer to business opportunities where new or different goods or services can be introduced into a market. In this case, the cell phone market in eastern African countries is basically saturated with low-end phones, but David sees the opportunity of selling more expensive and better cell phones. Since he wants to offer different goods into an established market, he is identifying an entrepreneurial opportunity.