Audrey is thinking about starting a small business and is trying to assess the potential opportunities and threats associated with a new startup. She has spoken with friends and associates about her plans, and many of them have offered her opinions and advice. The comments of four friends are summarized below. Which of these statements would be the most helpful to Audrey?

Question

Audrey is thinking about starting a small business and is trying to assess the potential opportunities and threats associated with a new start­up. She has spoken with friends and associates about her plans, and many of them have offered her opinions and advice. The comments of four friends are summarized below. Which of these statements would be the most helpful to Audrey?

Quizplus · Accepted Answer

Out of the four options, D is the only statement that provides helpful advice for a startup. Finding a niche market segment allows a company to target a specific group of customers who have unique needs, which larger companies may not be able to cater to. This can provide an advantage for a small startup to establish itself within the market. Additionally, operating in a smaller market segment can reduce competition, which can help the company to grow and become profitable.

Audrey Is Thinking About Starting a Small Business and Is