In the Spotlight on Small Business box, after entrepreneur Lance Fried developed a successful prototype for his waterproof MP3 player, he decided the best strategy for marketing his product was to:

Question

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Having the product available at trade shows allows potential customers to see and experience the product firsthand, which can increase the likelihood of making a sale. This approach also allows for networking opportunities and potential partnerships in the industry. Mass distribution and charging a high price may not be the most effective strategies without first establishing a demand for the product. Seeking out venture capitalists may not be necessary if the entrepreneur is able to successfully market and sell the product on their own.

In the Spotlight on Small Business Box, After Entrepreneur Lance